WASHINGTON, N.C. – Fountain Powerboat Industries, Inc., is planning market expansion into China and surrounding regions through its exclusive international distributor, Fountain Worldwide, LLC, the company reported in a press release last week.
Company officials recently returned from a nine-day trip to the People's Republic of China to explore opportunities for the marketing and sales of Fountain's sport, fish and express cruiser boats. The group was hosted by the PRC director General of Foreign Affairs and several economic development groups from regions encompassing Beijing and Shanghai.
"Asia now ranks as the world's fastest growing economy, boasting double digit quarterly economic growth," said Fountain Chairman and CEO Reggie Fountain. "With the results of the fact finding mission and marketing research conducted in the region by Fountain Worldwide Director of Business Development Tim McSwiney, we believe there is an existing demand for our lines of high performance sport, fish and express cruiser boats."
A highlight of the trip was an introduction to the chairman of the China Boat Industry and Trade Association and his invitation to Fountain to be a key participant in the Shanghai International Boat Show. Fountain Worldwide committed to participate in the show and said it would lend its experience and contacts to help further the development of the pleasure boating movement in China.
"We anticipate our expansion into China will further bolster our already dramatic increase in international revenue," said David Knight, Fountain’s president. "In conjunction with Fountain Worldwide, we plan to leverage our great relationship with the U.S. Department of Commerce to drive additional awareness of Fountain's leadership position and market penetration into the region throughout the coming year."
- For more of the latest news, click here.