United States-based Lexmark, the world's sixth-largest printer manufacturer, has chosen Hong Kong for its Asia-Pacific headquarters.
The move comes with the appointment of Philip Carmichael as the new vice-president and general manager for the Asia-Pacific region. Mr Carmichael succeeds Don Shropshire but, unlike his predecessor who was stationed in the US, he will work at the Hong Kong office.
'We intend to run our business for Asia from Asia,' said Mr Carmichael, who is now the company's most senior executive based outside of the US.
He said Lexmark, which has more than 8,000 employees worldwide and had sales of US$3 billion last year, chose Hong Kong over other Asian cities for several reasons.
He cited the Government's commitment to the hi-tech industry, the education system's dedication to producing talented graduates and Hong Kong's strategic position at the centre of Lexmark's Asian market.
Following Japan, the mainland was the largest printer consumer in Asia and, together with Australia, the three countries made up 75 to 80 per cent of the region's revenue, Mr Carmichael said.