Fuji Electric Strengthens Its Sales Network in South Korea
Fuji Electric Co., Ltd. (TOKYO:6504) announced today that it has established Fuji Electric Korea Co., Ltd., with a view to strengthening its sales network in South Korea.
Capital outlays are projected to grow significantly in South Korea in social infrastructure fields, such as railways and electric power generation, and in industrial fields, particularly the automotive, steel, electric appliances, and food industries. Fuji Electric has been expanding its business in the South Korean market focusing on the sales of components. In addition to these products, the Company intends to step up sales and marketing of systems designed for industrial, power and other types of plants in the future.
To realize this objective, Fuji Electric has renamed Fuji Electric FA Korea Co., Ltd. as Fuji Electric Korea Co., Ltd. and established it as a new company after its subsidiary, Fuji Electric FA Components & Systems Co., Ltd., transferred all of its 200,000 shares in Fuji Electric FA Korea Co., Ltd. to Fuji Electric. The new company will work to expand sales activities rooted in the local market as Fuji Electric's comprehensive sales and marketing company in South Korea.
2. Main business activities
|(1)||Sales of systems (including power distribution equipment, instrumentation equipment, uninterruptible power supply systems, and high-voltage inverters) to various kinds of industrial plants, as well as related engineering and after-sales service|
|(2)||Sales of component products (including invertors, servos, and electric distribution and control components) to assembly manufacturers|
|(3)||Sales support for various kinds of plants (including power plants and rectifier facilities) in social infrastructure fields|
3. Overview of the new sales subsidiary
|(1) Company name:||Fuji Electric Korea Co., Ltd.|
|(2) Address:||16th Fl., Sinsong Bldg. 25-4, Youido-dong, Youngdungpo-gu, Seoul 150-010, South Korea|
|(3) Representative:||Yuji Hosoya|
|(4) Ownership:||Wholly owned by Fuji Electric Co., Ltd.|
|(5) Capitalization:||1 billion won|
|(6) Date of establishment:||April 5, 2013 (date when company registration was completed)|
For enquiries regarding this press release:
Fuji Electric Korea Co., Ltd.
Geon-Yeong Jhong, 82-2-780-5011
Corporate Administration Division