OMRON Corporation Begins Full-scale Entry into Indian Market - Establishment of New Sales Subsidiary and Acceleration of Operations on the Subcontinent -
FOR IMMEDIATE RELEASEFebruary 23, 2006
TOKYO, Japan – February 23, 2006 – OMRON Corporation (TSE: 6645; US: OMRNY), a US$5.5 billion Japanese manufacturer of automation and sensing products, has established OMRON Automation PVT Ltd. (hereafter, OEP-IN), a new, wholly-owned subsidiary in New Delhi, India.The move marks the beginning of a full-scale entry to the rapidly growing Indian factory automation (FA) market by OMRON’s Industrial Automation Business (IAB).The new company will handle the sales and servicing of IAB’s control equipment and is scheduled to start operations in April 2006.
Fuelled by the country’s dramatic economic expansion, India’s FA market is growing rapidly, centered on the automotive industry.Until now, IAB has serviced its Indian customers through a subsidiary in Singapore, OEP-SG, with representative offices engaged in promotional activities and product servicing in New Delhi, Bangalore and Mumbai.By establishing a local sales subsidiary with distribution rights, IAB aims to provide a more timely and personalized level of customer support in order to increase its share in this burgeoning market.
Takashi Kitagawa, President of OEP-IN said, “IAB has earmarked India as a market whose growth potential is second only to China, and we are confident that now is exactly the right time to be expanding our operations in the region. The establishment of this new sales subsidiary reflects our commitment to working more closely with our Indian customers.OEP-IN will offer a full array of control products including sensors, components, controllers (PLCs, motion controllers, inverters) and networking systems, while our customers will benefit from direct sales, as well as even higher levels of technical support, servicing and speedier delivery.”
OMRON projects revenues of 1.2 billion yen from OEP-IN in fiscal 2006.
Profile of the New Company
|Name||OMRON AUTOMATION PVT LTD.|
|Location||B-1/A-15 Mohan Co-operative Industrial Estate, Mathura Road, New Delhi 110044|
|Date established||18 January, 2006|
|Date of incorporation||1 April, 2006 (scheduled)|
|Capital||US$ 250,000 (approximately 30,000,000 Japanese yen )|
|Capital Composition||OMRON ASIA PACIFIC PTE. LTD.*- 96% (*OMRONASIAPACIFIC PTE. LTD. is a wholly-owned subsidiary of OMRON Corporation)
OMRON ELECTRONICS PTE. LTD.* - 4% (*OMRONELECTRONICSPTE.LTD is a wholly-owned subsidiary of OMRONASIAPACIFICPTE.LTD.
|No. of employees||Approximately 60 in fiscal 2006|
|Main business||Sales of control system devices, technical support, customer service|
Headquartered in Kyoto, Japan, OMRON Corporation is a global leader in the field of automation. Established in 1933 and headed by President and CEO Hisao Sakuta, OMRON has more than 26,000 employees in over 35 countries working to provide products and services to customers in a variety of fields including industrial automation, electronic components, social systems (ticket gate machines, ticket vending machines, and traffic control), and healthcare. The company is divided into five regions and head offices are in Japan (Kyoto), Asia Pacific (Singapore), China (Shanghai), Europe (Amsterdam) and US (Chicago). For more information, visit OMRON's website at www.omron.com.