Hitachi and Soe Electric & Machinery form joint transformer venture
Japan, Tokyo: Hitachi Industrial Equipment Systems (HIES) and Soe Electric & Machinery (SEM) have announced the completion of a formal contract for the establishment of a joint venture company handling power and distribution transformers in the Republic of the Union of Myanmar.
Japan, Tokyo: Hitachi Industrial Equipment Systems (HIES) and Soe Electric & Machinery (SEM) have announced the completion of a formal contract for the establishment of a joint venture company handling power and distribution transformers in the Republic of the Union of Myanmar.
HIES and SEM have been involved in technical collaborations related to amorphous transformers since 2012 and have formed a cooperative relationship in the field of engineering, reports The Financial.
The joint venture company under the name Hitachi Soe Electric & Machinery is intended to further strengthen this collaborative relationship and it will take over SEM’s transformer business, undertaking the design, manufacture, sales, installation, and maintenance of power transmission and distribution equipment in Myanmar, with a particular focus on transformers.
HIES and SEM will apply to the Myanmar Investment Commission for investment authorization, and will aim for the start-up of business operations by 31 March 2016.
Source: The Financial
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