Meidensha Corporation (MEIDEN)
has moved into Myanmar, signing a technical transfer agreement with
Asia General Electric Co, Ltd (AGE) and a Memorandum of Understanding
between AGE and Japan’s Metal One Corporation, MEIDEN’s President and
CEO Junzo Inamura announced last week.
On Monday, December 17,
the Tokyo-based electronics equipment maker signed with AGE, a national
transformer manufacturing and sales company, to build a local network
for power transmission and distribution.
Development will focus on transformer design, manufacturing and repair.
“Through
the supply of the low cost and high-quality licensed products
manufactured by AGE, MEIDEN will reinforce its competitive edge in the
Southeast Asian Region,” MEIDEN’s official announcement states.
“AGE
will have the latest technology on high quality medium and large power
transformers and it will solidify its presence as the largest supplier
of power transformer in Myanmar,” the announcement continues.
MEIDEN also signed an MoU between AGE and Metal One, Japan’s leading steel trading house, for the study of equity investment.
“If
the equity investment is made, it will be the first case of equity
investment from Japan to a power infrastructure-related company in
Myanmar,” MEIDEN’s announcement states.
Under the conditions set
out in the MoU, Metal One will provide AGE with electromagnetic
technology to manufacture midsize and large transformers.
The MoU also states that MEIDEN would consider investing in AGE if the cooperation is successful.
MEIDEN
was founded in 1897, and employs nearly 8,000 people. The corporation
is listed on the 1st Section of the Tokyo Stock Exchange.
source: The Myanmar Times
http://www.mmtimes.com/index.php/business/3631-japanese-back-myanmar-electrics.html
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