Germany's Metro Plans to Enter Retail
Europe's largest retail company, Metro AG, is planning to set up a network of 20 wholesale markets in Indonesia with an investment of 500 million euro ($666.2 million), a newspaper reported on Thursday (29/3/07).
The Investor Daily quoted Germany's deputy ambassador in Indonesia Wolfgang Piecha as saying that the network would span Sumatra, Java and Bali.
Metro is the world's third biggest retailer by sales.
"Other than Metro, another investor from Hamburg is also planning to construct a chemical storage terminal," Piecha said after a meeting between the chambers of commerce of Indonesian and Germany.
Duesseldorf-based Metro, which has a market capitalization of $22.6 billion, is expecting its sales to climb by 8% to 9% this year as it reaps the fruit of acquisitions made last year and grows its wholesale and electronics units.
The Investor Daily quoted Germany's deputy ambassador in Indonesia Wolfgang Piecha as saying that the network would span Sumatra, Java and Bali.
Metro is the world's third biggest retailer by sales.
"Other than Metro, another investor from Hamburg is also planning to construct a chemical storage terminal," Piecha said after a meeting between the chambers of commerce of Indonesian and Germany.
Duesseldorf-based Metro, which has a market capitalization of $22.6 billion, is expecting its sales to climb by 8% to 9% this year as it reaps the fruit of acquisitions made last year and grows its wholesale and electronics units.