Azbil Corporation signs joint venture agreement with Tharawat Development Co. to expand Plant Life Cycle Support business
TOKYO, June 19, 2012 - Azbil Corporation has announced that it officially signed with Tharawat Development Co. (hereafter, Tharawat) to create an affiliate named Azbil Saudi Arabia Limited in Saudi Arabia.
The new company will be established in Dammam, Eastern Province, Saudi Arabia, and Tetsuya Kurasawa, Director of International Business Headquarters of Azbil Corporation, will be appointed President. It will manufacture and sell control valves, sell Azbil Corporation’s process automation and factory automation products/systems, and provide engineering and related services. At the same time as the establishment of the company, the construction of its factory will begin, with production scheduled to start in October 2013. Production will begin with the assembly of large-bore control valves, and in the future, the company will expand its business to offer total solutions covering the entire product life cycle. Also, to live up to the Saudi Arabian government’s and local customers’ expectations for human resources development, the company will provide training facilities and systems to enhance local capabilities for plant instrumentation.
Azbil Corporation held a solo exhibition of plant life cycle solutions in March in Al Jubail, Saudi Arabia. In addition, it has been accepting and training Saudi students in Japan through its internship program so that they become a key part of the human resources in Saudi Arabia.
Tharawat, the partner of the joint venture, has good relationships with many petrochemical companies in the Middle East. Through these networks, the new company will sell products not only within Saudi Arabia but also to neighboring countries and has set a sales target of 100 million SAR (Approx. 28 Million US$) for 2015.
|Company name:||Azbil Saudi Arabia Limited|
|Location:||Dammam, Eastern Province, Saudi Arabia (TBD)|
|Board members:||President and one board member from Azbil Corporation; two board members from Tharawat|
|Capital:||Approx. 6.8 million SAR (1.9 Million US$)|
|Investment ratio:||Azbil Corporation, 51 %; Tharawat. 49 %|
|Main business activities:||(1)||Production, sales and export of control valves in Saudi Arabia|
|(2)||Maintenance, repair, engineering, consulting, sales of and training for measurement and control instruments and systems in Saudi Arabia.|
The establishment of the affiliate has the support of the Japan-Saudi Arabia Industrial Cooperation Task Force of the Japan Cooperation Center for the Middle East, whose main activity is to support Japanese companies considering investment in Saudi Arabia.
Guided by the Group philosophy of human-centered automation, Azbil Corporation continues to strengthen its ability to provide customers at home and abroad with on-site solutions to realize customers’ safety, comfort and fulfillment and contribute to preserving the global environment.
Left: Hirozumi Sone, President of Azbil orporation.
Right: Subhi M. Al-Hashem, Vice Chairman and President of Tharawat