Newell Rubbermaid Expanding In China
ATLANTA (AP) -- Newell Rubbermaid Inc. announced the expansion of its Shanghai office on Tuesday, helping the consumer products company's effort to expand in key international markets.
The Atlanta-based company sells products such as Rubbermaid storage items, Sharpie pens and Calphalon pans. It is one of many American corporations pushing expansion in fast-growing markets such as China, where a growing middle class has created a new base of potential customers.
Newell said it is adding space to accommodate its growing team in China and support a push of some of its products that are popular in China, such as writing, baby and tool products. The company has more than 450 Parker pen branded shop-in-shops operating in department stores across China.
The Shanghai office currently houses nearly 200 employees, with additional capacity for future growth. It adds to the company's existing sales and procurement offices in Beijing and Shenzhen, as well as several technical centers for its tools business and a fine writing innovation center and a number of manufacturing and distribution facilities across China.
Newell shares fell 42 cents to $21.83 in afternoon trading.