“Our own staff on site wherever you are”
RINGSPANN is intensifying its ASEAN presence with a new subsidiary in Singapore
RINGSPANN is continuing its internationalisation strategy at an impressive pace. The latest evidence of this is the establishment of a subsidiary in Singapore just a few days ago. With what is now its 13th foreign branch, the German premium manufacturer of drive components, precision clamping technology and push/pull cable systems is strengthening its market position in the Southeast Asian economic region. The company can now provide more intensive support to its ASEAN customers in mechanical engineering, mining and the paper industry from Singapore.
Bad Homburg, May 2018. – “The establishment of our subsidiary RINGSPANN Singapore is yet another key measure of our long-term internationalisation strategy. We are coming a significant step closer to our objective of having our own staff on site in all important mechanical engineering nations in the world”, says Nico Hanke, RINGSPANN’s International Head of Sales. In the ASEAN region, users particularly in the fields of mechanical engineering, raw material extraction and the paper industry can now be reached more quickly and directly by the German manufacturer with its products than was previously the case. RINGSPANN’s 13th international subsidiary, positioned as a distributor, is exceptionally well equipped for the task, being able to access the capacities of all international production sites in Germany, China, the USA and South Africa. “This way we are able to ensure that RINGSPANN Singapore can serve the large ASEAN area effectively and intensively with our freewheels, shaft-hub-connections and overload clutches, as well as our industrial brakes, precision clamping fixtures and mechanical remote control systems. Our headquarters in Bad Homburg and our manufacturing plant in China will be playing a leading role here”, explains Nico Hanke.
Focus on the MRO sector
The principal focus of RINGSPANN’S supplier activities in the emerging Southeast Asian region is on the MRO business, i.e. the fields of maintenance, repair and operations. Since experience has shown that supplying customers in these regions place greater logistical demands due to geographic obstacles and large distances, the continued expansion of the partner and distributor network in ASEAN countries ranks among RINGSPANN Singapore’s primary tasks. “Through this network, the regional markets should then stand to benefit from all our strengths – i.e. both the high quality of our products and our extensive consulting expertise. This is why it is so important to have the local presence of our own teams”, stresses Head of Sales Nico Hanke.
The greatest challenges
RINGSPANN has had sufficient time in the last three years to familiarise itself with the unique demands of the ASEAN region. The company has built up a stable customer base with the help of a representative office in advance of establishing the new foreign subsidiary in Singapore. “We have been laying the groundwork for the realisation of RINGSPANN Singapore since 2014”, says Nico Hanke. As an expert of the ASEAN region, the RINGSPANN’s International Head of Sales however only knows too well what – completely independent from product and service quality – the largest obstacles really are to achieving business success in this part of the world. In his view, “the undoubtedly greatest challenges lie in the cultural and ethnic diversity and in the vast disparity in educational levels of the individual nations in Southeast Asia. Only those who are able to adapt to this and have staff on site who flexibly, professionally and patiently cope with these demands will be successful as a component supplier”, states Hanke.
The internationalisation continues
The founding of RINGSPANN Singapore is still just one phase of the internationalisation strategy of the Bad Homburg drive technology specialists. In just a few weeks, the company will be announcing the establishment of its 14th international subsidiary. According to RINGSPANN Head of Sales Nico Hanke, they are now only waiting for some details from the authorities.
RINGSPANN as a global player
For many years now, RINGSPANN has been single-mindedly and systematically pursuing a strategy of internationalisation. From 2006 to 2011, subsidiaries were established in China, Benelux and India, and further foreign subsidiaries followed in Sweden, South Africa and Italy between 2014 and 2016. RINGSPANN Austria was founded in 2017, and this year RINGSPANN Singapore will be enriching the corporate group. Another company is currently in the process of its inception.