KOKUYO Acquires Lamex Metso Office Furniture

On July 20, 2022, U.S. office furniture manufacturer HNI Corporation announced that it has completed the sale of its Lamex Office Furniture business in China, which was acquired by Japanese office furniture brand KOKUYO for $75 million (approximately RMB 500 million). Jeff Lorenger, chairman, president and CEO of HNI, said Jeff Lorenger, Chairman, President and CEO of HNI, said, "We believe that Lamex will continue to be successful under KOKUYO's management and that the sale of the Macy's office furniture business will further streamline the company's structure to better focus on the Group's core strategy.