Spartanburg, S.C. - Three years ago, in 2007, Kymco USA's partner company in Taiwan entered into a joint venture agreement with the original owners, STR Inc., by purchasing 50 percent of Kymco USA. In February of this year, STR Inc. and Kymco Taiwan finalized a deal in which Kymco Taiwan became the 100 percent owner of Kymco USA.
Kymco is the only off shore brand which has recently entered the U.S. market to make this significant long term investment in its U.S. partner and once again cements the commitment Kymco has to growing its business in the U.S.
"This is definitely the right move for our brand," Eric Bondy, president/CEO of Kymco USA, said. "Kymco has consistently proven itself a viable option in the markets we serve and this very significant commitment by the parent company will allow Kymco USA to continue to aggressively pursue our growth initiatives."
With the ownership change there is no expected change in management of the company or physical location and Kymco USA will continue to reside at its 80,000 square foot facility located in Spartanburg, SC.