|Staples, Inc. Enters the Taiwan Office Products Market; Staples Signs Joint Venture Agreement with UB Express|
FRAMINGHAM, Mass., Jun 26, 2006 (BUSINESS WIRE) -- Staples, Inc. (Nasdaq: SPLS) announced today a joint venture with UB Office Systems and one of its business units, UB Express, a leading office supplies delivery business in Taiwan. The agreement establishes a platform for Staples to enter the estimated $2.5 billion Taiwan office products market.
"As Staples expands globally, the Taiwan market represents a significant opportunity for the company," said Ron Sargent, Staples chairman and chief executive officer. "This partnership combines UB's local business expertise and leading brand with Staples' best practices and global procurement strength. Staples looks forward to working with the UB Express team including UB Office Systems chairman and CEO Elton Lin who will lead operations of the joint venture."
Established in 1998 as a business unit of UB Office Systems, UB Express provides next-day delivery of office supplies to corporate customers throughout Taiwan. UB Express customers, who place orders via catalog and online, include government agencies, large financial institutions and multi-national companies. UB Office Systems, established in 1973, is the largest office furniture manufacturer and retailer as well as the leading copy machine distributor serving corporate customers in Taiwan. More information is available at http://express.ubos.com.tw and http://www.ubos.com.tw.
Staples, Inc. invented the office superstore concept in 1986 and today is the world's largest office products company. With 69,000 talented associates, the company is committed to making it easy to buy a wide range of office products, including supplies, technology, furniture, and business services. With 2005 sales of $16.1 billion, Staples serves consumers and businesses ranging from home-based businesses to Fortune 500 companies in 21 countries throughout North and South America, Europe and Asia. Headquartered outside of Boston, Staples operates 1,786 office superstores and also serves its customers through mail order catalog, e-commerce and contract businesses. More information is available at www.staples.com.
SOURCE: Staples, Inc.