News Releases 2016Meiden Inked a Tech Transfer Agreement with a Thai T&D Products Manufacturer on Distribution Transformer Technology
Meiden will expand T&D business (Transformers & Switchgears) with ASEAN Region Power Utilities
Tokyo. – November 8, 2016 - Meidensha Corporation (“Meiden”) (Tokyo Stock Exchange Sticker: 6508、President, Yuji Hamasaki) has signed a technical transfer agreement with Precise Electric MFG Co., Ltd. (“PEM” or “Precise Group”) (Chairman & CEO: Mr. Kitti Nutchayangkul, ), a Bangkok-based Thai company , on distribution transformer technology. The signed ceremony was made in Bangkok on October 26, 2016.
Due to the rise of economic development in Thailand in recent years, demands for high-quality transmission and distribution (“T&D”) products such as transformers and switchgears have been on the rise. In May 2016, Meidensha signed a business collaboration agreement with Precise Group firm, Precise Electro-Mechanical Works Co., Ltd. on the switchgear business. And to make collaboration with Precise group stronger, we Meiden has signed a technical transfer agreement (“TTA”) with PEM on the distribution transformer technology. Under TTA, Meiden will grant a technical license on distribution transformer technologies.
Working closely with the Precise Group, it is expected the licensed products will get the necessary type certification to be used in the power network systems in Thailand. Making the best use of existing Precise Group’s sales channel, Meiden Group will make a full-scale entry into ASEAN region with the T&D products for the power utilities there.
As a key action plan, Meiden selected “Build new partnership" in its medium-term management plan, “V120” (FY2015 – FY2017). Meiden aim to achieve the annual revenue of T&D business about 65 billion yen in FY 2020. This is the double amount of FY 2015 revenue level. Going forward, Meiden will reinforce the partnership and its strategy with overseas affiliated company to expand T&D business in the ASEAN Region Market.
At the signing ceremony in Bangkok on October 26, 2016
(Left) Mr. Nobuaki Tamaki - Meidensha Corpotration, Executive Officer and General Manager of T & D Business Unit
(Right) PEM: Mr. Kitti Nutchayangkul - Precise Electric MFG Co., Ltd., Chairman & CEO
about Precise Electric MFG Co., Ltd.Establishment: 1987
Business scope: Production and sales of small capacity transformers,
lightning arresters, capacitors for power network, other T & D products
Location: Head office - Bangkok, Thailand
Factory- Pathum Thani Province, Thailand
Contact at Meiden on this press release:General Affairs & Public Relations Division