Azbil Establishes an Overseas Subsidiary in Viet Nam
TOKYO, August 29, 2024: Azbil Corporation (Tokyo Stock Exchange Code: 6845) announced that it will establish its manufacturing subsidiary, Azbil Vietnam Production Co., Ltd. (hereinafter “the new company”) to serve as a new production base in Hưng Yên Province, Socialist Republic of Viet Nam, aiming to develop and strengthen its global production and procurement systems.
The azbil Group is currently expanding its global business to achieve sustained growth and increase shareholder value in order to attain its long-term target for FY2030. The new company, being our new overseas production base, will be established to join our existing manufacturing sites in Dalian, China, and Chonburi Province, Thailand, with an aim to enhance our global production system. In establishing the new company, we are planning to increase the production capacity, reduce costs to enhance competitiveness, and develop the appropriate production system to enable sustained product supply. Moreover, we regard the establishment of the new company as a better provision for responding to geopolitical risks of concern.
Guided by the philosophy of “human-centered automation,” the azbil Group will continue to fulfill our social responsibility within the supply chain, and aim to achieve its sustained growth and improved shareholder value.
Overview of the new company
| (1) Company name | Azbil Vietnam Production Co., Ltd. |
|---|---|
| (2) Location | Hưng Yên Province, Viet Nam |
| (3) Name and title of representative | Yusaku Michinobu, General Director |
| (4) Business description | Manufacture, repair and sales of electronic equipment such as motorized valves and flowmeters |
| (5) Capital | 13,000 thousand US dollars (1,875 million yen)* |
| (6) Date of establishment | Undetermined |
| (7) Major shareholder and ownership percentage | Azbil Corporation 100% |
* Posted information is accurate as of the date of announcement.