| April 22, 2004 | ||||||||||||||||
| Yamatake Corporation establishes overseas affiliate in Shanghai for the sale of control products, intensifying business expansion efforts aimed at China’s industrial market | ||||||||||||||||
Yamatake Corporation has established Yamatake Automation Products Shanghai Co., Ltd., in Shanghai, China. The new company will begin operating on May 1, 2004. At present, Yamatake has a total of four overseas affiliates on the Chinese mainland: Shanghai Yamatake-SIC Environmental Control Technology Co., Ltd. and Yamatake Environmental Control Technology (Beijing) Co., Ltd., both of which are engaged in the building systems business; Shanghai Yamatake Jinshan Control Instruments Co., Ltd, which is involved in the industrial systems business; and Dalian Yamatake Control Instruments Co., Ltd., a manufacturing facility. Yamatake Automation Products Shanghai, which has thus become the fifth overseas affiliate in mainland China, will sell such control products as controllers, sensors and switches, principally for customers in the automobile, electrical, electronic, semiconductor, food and packaging, conveyance, and industrial furnace markets. Furthermore, serving as a logistics center for Yamatake’s manufacturing and sales affiliates in China, it will help to ensure the speedy supply of Yamatake products. By offering solutions to the various issues facing industrial market customers in China, the new company aims to quickly establish a reputation as a reliable partner. This new company is a wholly owned subsidiary of Yamatake with authorized capital of US$370,000. The head office is in Shanghai Wai Gao Qiao Free Trade Zone and there are regional offices in Beijing, Tianjin, Guangzhou, Zhuhai, and Hong Kong. In the first year, the business plan calls for about 30 members of staff. Taking on the position of General Manager is Iemasa Chang, who has been International Business Director in the Control Products HQ of Yamatake’s Advanced Automation Company. By handling and selling control products and systems for factories, plants and HVAC equipment in the China market, the new company expects to achieve sales of 2 billion yen after three years.
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