Walton Hi-Tech Industries PLC has signed a partnership agreement with Danby Appliances, a renowned compact appliance brand in North America, for expanding its global market in the region.
With this signing, Walton will lead Bangladesh to enter into the USA region for the first time ever in electronics segment.
The partnership will ensure the establishment of Walton brand products in USA and Canada, read a press release.
Recently a team of Walton high officials visited 'Consumer Electronics Show (CES-2022)' held in Las Vegas.
The Memorandum of Understanding (MoU) between Walton and Danby was signed at the CES which is one of the world's biggest tech trade shows.
Edward Kim, president of the Global Business Division of Walton Hi-Tech Industries PLC, and Andrew Raymond, CFO of Danby Appliances, have signed the deal for their respective organisations.
The signing ceremony was arranged on Friday (7 January) virtually for worldwide Covid-19 situation.
Golam Murshed, managing director and CEO of Walton Hi-Tech Industries PLC, Jim Estill, president and CEO of Danby, Walton's DMD Amdadul Hoque Sarker, home appliance's Chief Business Officer (CBO) Al-Imran, kitchen appliance's CBO Mahfuzur Rahman, Global Business Division's vice-president Abdur Rouf and Sr Assistant Director Kaysar Chayan were among others present on the occasion.
With this signing, Walton agreed to develop and manufacture the products considering the North America market standard with the collaboration of Danby while Danby will work in sales and distribution of Walton products in North America market.
Terming the MoU as a milestone for Bangladesh's electronics and technology industry, Walton Hi-Tech's MD and CEO Golam Murshed said this partnership will expedite Walton to become one of the top global electronics brands by 2030.
"Walton will take the flag of Bangladesh to every corner of the world and represent the nation as a high-tech industry developed country," he added.
Welcoming the newly established partnership, Danby's President and CEO Jim Estill has expressed his collaboration to manufacture, promote and distribute Walton brand products in North America region.
He hoped to visit Bangladesh and Walton's manufacturing facilities once the world overcome the Covid-19 pandemic.