In the first ever meeting of the Board of Directors of Yokogawa Electric Corporation (the Company) held in Singapore, approval was given today for Yokogawa Engineering Asia to play an expanded role as a knowledge intensive center. As such, this Singapore subsidiary will perform three key tasks to accelerate the growth of the industrial automation (IA) business in the global market and carry out business development in new markets.
|
1.
|
Establishment of a software package development organization
The Singapore Development Center will be established on October 1, 2004 to engage in the development of production control application software. Being strategically located close to major customers in the global market, this Center will actively gather information on customer needs and apply that to the development of advanced process control and plant resource management software packages for use as part of a manufacturing execution system. The Center will start operations with twenty engineers from Japan and fifty local development engineers. In the future, the Center will employ several hundred locally hired engineers. |
| 2. |
Launch of market development activities targeting promising new businesses
Yokogawa considers life sciences a promising field for the development of new businesses. As many major international companies in the fine chemical, pharmaceutical, drug development, and bio-chemical fields are operating in Singapore, a market development organization for targeting future growth in these fields will be established. |
| 3. |
Establishment of an intellectual property registration and administration function
An organization will be established to register and administer intellectual property rights arising from the activities of the software development center and the new business market development function. Taking advantage of the fact that many people in Singapore have a good command of English, Chinese, and other languages, this organization will also have responsibility for registering outside Japan the intellectual property rights that are owned by the Company in Japan. |
Since its establishment in 1974 as the Company’s first ever factory outside Japan and the subsequent expansion of the engineering function, the Singapore operation has grown steadily and become our Asian headquarters. Over the past 30 years, it has developed strong relationships with industries in the region.
The Company is aiming to become the No. 1 IA supplier in the world by 2010. To expand its market share, it is essential to increase its capability for providing solutions to the IA market. Also important is the ability to better understand customer needs and carry out engineering and other project phases. To do so the ability to communicate in English is required. Singapore has all of the above as well as the following advantages:
| - |
Is advanced in IT and has an abundance of highly trained IT specialists |
| - |
Many people speak and understand English, Chinese and other Asian languages and are able to support business development in the promising Chinese and Indian markets. |
| - |
Strategic central location in Asia, an important market for the Company’s IA business and a region in which the Company has accumulated significant expertise and experience over the past thirty years |
Uchida’s quote:
I would like to thank the government and the people of Singapore for our successful operation in these 30 years. Today, we build the most advanced process control systems and provide engineering solutions to our global customers from our operations in Singapore. I am proud of my role in this undertaking and will ensure that Yokogawa continues to contribute to Singapore’s growth.
The decision to strengthen this Yokogawa subsidiary in Singapore will create a more solid base for conducting business in Asia and better position the Company for conducting its global business activities. The Company is taking practical steps to achieve the world’s top share by extending the above practices to Europe and North America.
Mr Teo Ming Kian, Chairman of EDB said, "Yokogawa's new investments will strengthen Singapore's position as the leading process automation hub in Asia. The proposed Global Software R&D Centre and Intellectual Property Management Centre represent the first time that such high value-added innovation activities are conducted by Yokogawa outside Japan. The expansion of Yokogawa's headquarters in Singapore is also testimony to our attractiveness as an international business hub, where companies can leverage on Singapore's strategic location to effectively serve the fast-growing regional market."
About Yokogawa Electric Corporation
Yokogawa's global network of 18 manufacturing facilities, 91 affiliate companies, and over 500 sales and engineering offices spans 28 countries. Since its founding in 1915, the US$3 billion company has been engaged in cutting-edge research and innovation, securing more than 4,500 patents and registrations, including the world's first distributed control system and the first digital sensors for flow and pressure measurement. Industrial automation and control, test and measurement, information systems and industry support are the core businesses of Yokogawa. For more information about Yokogawa, please visit our web site at www.yokogawa.com
Yokogawa’s operations in Singapore
About Yokogawa Engineering Asia
Yokogawa Engineering Asia Pte Ltd (YEA) was established in March 1997 as Yokogawa ASEAN Regional Headquarters for Sales, Engineering and Service activities. Under the BHQ scheme, YEA had undertaken various activities in the regional management (Malaysia, Indonesia, Thailand, Philippines and Middle East) and business support services. Yokogawa Global Engineering Solutions Center (GESC) was set up in August 2001 as part of BHQ activities. GESC provides a group of highly skilled project consultants for international automation projects around the world.
To date, the main customers of Yokogawa are from: Oil and Gas, petrochemical, pharmaceutical/life sciences, semiconductor, power, water/waste water treatment and food and beverages.
About Yokogawa Electric Asia
Yokogawa Electric Asia Pte Ltd (YAS) was established in March 1974 to manufacture analog meters. In 1987, it became the first factory outside Japan to manufacture distributed control system for the market world wide except Japan. From 2003, YAS became the only Yokogawa’s distributed control system manufacturing company for its global market including Japan.
For more information about YEA and YAS, please visit our web site at www.yokogawa.com.sg.
About RSS Feeds