Dec 15 2011 |
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Hitachi Plant Technologies Acquires Saihati Weir of Saudi Arabia
To strengthen industrial equipment, infrastructure business in the Middle East
With this acquisition, Hitachi Plant Technologies will leverage Saihati's resources to serve as a base for maintenance, manufacturing, and sales of industrial equipment, such as compressors, and for other infrastructure businesses in Saudi Arabia and elsewhere in the Middle East. The move is expected to strengthen the company's industrial equipment and infrastructure business in the region.
On June 21, 2011, Hitachi Plant Technologies became the first Japanese manufacturer to sign a comprehensive corporate procurement agreement (CPA) with the Saudi state-owned oil company, the Saudi Arabian Oil Company ( Saudi Aramco ) for the supply and servicing of compressors for the oil and gas industry. Hitachi Plant Technologies also intends to move forward with plans to expand its aftersales service base in Saudi Arabia to strengthen its compressor servicing and maintenance business with Saudi Aramco .
Hitachi Plant Technologies decided to enter into this agreement to acquire Saihati to benefit from its customer base, human resources, and facilities to meet the growing demand in Saudi Arabia and other areas in the Middle East for industrial equipment and infrastructure.
Hitachi Plant Technologies is undertaking a wide range of initiatives to strengthen its ability to provide full support throughout the lifecycle of products and systems. The acquisition of Saihati is part of that strategy. Hitachi Plant Technologies will also continue to accelerate its community-based global development by strengthening its ties with customers and corporate partners as it expands its role in the outsourcing of maintenance services.
Overview of Saihati
Company Name: Saihati Weir Engineering Services Co. Ltd.
Location: Dammam, Saudi Arabia
Representative President: Shadia Tawfiq Jarrah
Capital: 8,000,000 SR (approximately 166 million yen)*1 (2011)
Shareholders: Ibrahim Ali Al-Saihati (54%), Shadia Tawfiq Jarrah (18%), Others (28%)
Business Areas: Repair, assembly and modification of motors, pumps, compressors, and other industrial equipment used for infrastructure; manufacture, assembly, inspection, etc. of machine parts
Sales: 10.31 million SR (approximately 215 million yen)*1 (FY 2010)
Employees: 76 (as of August 2011)
* 1SR = 20.87 yen.
-Ends-About Hitachi Plant Technologies, Ltd.
Hitachi Plant Technologies, Ltd. ― Supporting Infrastructure with Environmental and Energy-Saving Technologies ― is a member of the Hitachi Group. Harnessing its engineering capabilities, monozukuri (manufacturing) skills and project expertise, Hitachi Plant Technologies offers total solutions for social and industrial infrastructures.
The core businesses of our group mainly comprise Social Infrastructure Systems (pumps, compressors and water treatment systems), Industrial Systems (mechatronics, and chemical and pharmaceutical plants), Air Conditioning Systems (industrial and building facilities) and Energy Systems (nuclear and thermal power plants construction). For more information on Hitachi Plant Technologies, please visit the company's website at http://www.hitachi-pt.com.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50105989&lang=en
*Source: ME NewsWire
The press release can be viewed online: http://www.me-newswire.net/news/4669/en
Contacts
Hitachi Plant Technologies, Ltd.
Yoshihisa Imajo, +81-29-832-6348
yoshihisa.imajo.qu@hitachi-pt.com
Hiroshi Morii, +81-3-5928-8100
hiroshi.morii.cd@hitachi-pt.com
View this news release and multimedia online at:
http://www.businesswire.com/news/home/20111213006879/en
© Press Release 2011
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