Yokogawa Electric Corporation announces a plan to establish a subsidiary in Vietnam that will provide engineering and maintenance services and increase the competitiveness of its industrial automation and control business in this country, which is experiencing sustained rapid economic growth.

Background

 

Yokogawa is actively developing its business with the aim of becoming the frontrunner in the global industrial automation and control market by 2010. As part of its efforts, Yokogawa is focusing on strengthening its sales and engineering capabilities by making the best use of excellent resources and improving its maintenance service system in markets worldwide.

Prompted by the rapidly increasing demand for oil and natural gas in the global market, many oil and natural gas development projects including the construction of new chemical plants are currently underway in Vietnam.

 

In 2003, Yokogawa established a representative office in Hanoi that has been developing the Vietnamese industrial automation and control market in cooperation with local sales representatives. To further expand this business, Yokogawa considers it essential to have facilities and personnel for providing engineering and maintenance services in this market. Yokogawa Vietnam is being planned for this purpose.

Profile of Yokogawa Vietnam

 - Company Name: Yokogawa Vietnam Company Limited
 - Location: City of Hanoi
 - Capital: 200,000 US dollars  - President: Shuji Mori
 - Expected commencement of operations: August 2006
 - Line of business: Industrial automation and control engineering and maintenance services
 - Employees: 25 in 2006, 60 in 2008