Farouk Systems Buys 30 percernt of Unix Electronics Company
1 January 1970Farouk Systems a U.S. based professional hair care company with its main headquarters located in Houston, TX recently purchased 30% of Unix Electronics Company, based in Soul Korea. Known as Korea’s leading hair dryer maker, Unix Electronics is also the manufacturer for Farouk Systems famous CHI™ styling tool line. In a most recent survey, CHI™ was voted one of the best by 75,000 professional stylists this past year.
The agreement between the two companies not only includes an equity investment in the millions but will include a joint effort in building new plants in countries including Brazil, Dubai, Egypt, Jordan and China. Both companies see this venture as an opportunity to double sales and increase job opportunities in the world market. Currently Farouk Systems has a sales network expanding over 63 countries while holding the position as one of America’s largest retailers of professional hair care products.
Under this deal, Unix will be in charge of product design, production and research and development, while Farouk Systems will oversee sales and marketing. Together, they plan to manufacture and distribute top of the line and environmentally safe styling tools for both consumers and professional stylists to use.
“As a small and midsize company, we have worked hard at research and development to withstand any circumstances. I think (the deal) is the result of such efforts, “Lee Chung-gu, Unix CEO. According to the Founder and Chairman, Farouk Shami, “The mission of Farouk Systems is to provide my fellow hairdressers with the finest tools and technologies available world-wide, our new partnership with Unix will increase the level of safety against harmful EMF’s (Electro-Magnetic Field) produced by conventional appliances on the market to date.”
Source: PR Web
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