1. Earlier this year, Mattel Inc. (NASDAQ: MAT) celebrated 30 years of operations as Mattel Indonesia Inc. (PTMI) and unveiled the expansion of its Indonesian factory, including a new mold center in Cikarang, West Java, Indonesia. of opening. The expansion will help increase Mattel's production capacity for Barbie dolls and Hot Wheels die-cast cars and will create approximately 2,500 new jobs in Indonesia, in addition to the nearly 9,000 employees who work at Mattel's Indonesian factories during peak seasons.
2. In January 2023, Spin Master Corp. officially announced its plan to acquire HEXBUG from Innovation First International. The pending deal, which is due to close next month, is Spin Master's 28th acquisition since its founding in 1994.
3. Hong Kong Yingtai Group announced that it had acquired Lucky Group (English name: Lucky) for 100 million in cash. After Vietnam Lucky Factory was acquired by Yingtai Group, it was quickly renovated and expanded. It is expected that Vietnam Lucky Factory will have about 20,000 employees in the next three years. After the reorganization, Lucky Group developed rapidly and became a super large multinational toy group company.
4. Mattel and Hasbro, two major competitors in the toy industry, announced strategic cooperation. Mattel and Hasbro, two major rivals in the toy industry, announced a strategic partnership. On January 27, 2023, after Hasbro reported lower-than-expected preliminary earnings for the fourth quarter and full-year 2022, the entertainment and toy company revealed plans to cut 15% of its global workforce. Eric Nyman, an 18-year veteran of Hasbro who was promoted to president and chief operating officer just last year, is leaving the company.
5. Mattel Dongguan Electronics Factory (Dongguan Ledica Game Console Manufacturing Factory Co., Ltd.) closed. Ledica was established in 1994 and is located in Humen Town, Dongguan City. In October 2006, it became one of Mattel's production bases in China. . There were more than 5,000 employees at the peak period, and they were integrated into the Foshan factory.
In late March, Walt Disney executives planned to cut 4,000 jobs over the next two weeks, much earlier than expected as CEO Bob Iger works to save the company an estimated $5.5 billion.
7. In May, Guangdong Yueri Intelligent Technology Co., Ltd. invested 250 million yuan in the construction of new factories in its capital increase and production expansion project. The new factory covers an area of 6,500 square meters and has a construction area of 58,000 square meters. After completion and operation, the annual new output value will be more than 300 million yuan.
