June 22, 2006 - Tokyo, Japan - Yokogawa Electric Corporation announced 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 • Location: City of Hanoi• Capital: 200,000 US dollars• Wholly owned by Yokogawa Engineering Asia Pte. Ltd. (Singapore)• 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
About Yokogawa
Yokogawa's global network of 18 manufacturing facilities, 81 companies, and over 650 sales and engineering offices spans 30 countries. Since its founding in 1915, the US$4 billion company has been engaged in cutting-edge research and innovation, securing more than 7,000 patents and registrations, including the world's 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.
About Yokogawa Corporation of America
Yokogawa Corporation of America is the North American unit of $4 billion Yokogawa Electric Corporation, a global leader in the manufacture and supply of instrumentation, process control, and automation solutions. Headquartered in Newnan, Georgia, Yokogawa Corporation of America serves a diverse customer base with market-leading products including analyzers, flowmeters, transmitters, controllers, recorders, data acquisition products, meters, instruments, distributed control systems, and more.
