In Asia Pacific Office Depot also is growing each and every year. During 2006, we acquired a controlling interest in Best Office in South Korea and a majority stake in AsiaEC, one of the largest suppliers of office products and services in China. At the end of 2007, the International Division operated in this region several retail stores. We participate under licensing and merchandize arrangements and have wholly owned stores in Japan, South Korea, Thailand, etc.
In 2008 Office Depot and Reliance Retail Limited entered into a joint venture to provide office products andservices to business customers in India. This marks the entry of Office Depot into India, one of the top 15 office product markets in the world. To accelerate this rollout of our joint venture, Office Depot and Reliance also announced the acquisition of eOfficePlanet, one of the largest dealers of office products and services to corporate customers in India.
In the second half of 2008 Office Depot and Netbizz Office Supplies a leading office supplies provider in Singapore entered into a strategic alliance to provide office products and services to corporate customers in Singapore. Through this alliance, Netbizz Office Supplies will become Office Depot's dedicated partner in Singapore, enabling clients to use the Office Depot international network for their multi-country supply needs.
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