The Americas business growth for Teknos is driven by the global strategy: Balance for Regional Sales Split (between Europe, Asia and Americas) and Global-Local Approach.
To establish a stronger position in the Americas is important to allow leveraging the Teknos capabilities into one of the largest markets as well as to gain access to innovations on a global basis. While Teknos is still small in the Americas, the established basis in industrial wood applications and the opportunity to support local subsidiaries of many of our European key customers are a good basis to realize the desired growth.
In mid-March 2020, Teknos transitioned the US operations into a new state-of-the-art facility, providing significant increased manufacturing capacities and customer support capabilities, like an application lab and tinting equipment. The new facility provides the basis to support growth in the Americas, showing our customers that we are a capable supplier and can provide products of high quality and superior performance. Our main market differentiator is providing customer support, and the new facility provides everything needed.
An aggressive growth strategy is defined and will add needed resources to enable the desired growth in a balanced way, adding what is needed to capture new business, and based on more sales, adding more resources to drive continued growth.