CCI Strengthens Presence in Asia
21 April 2006
The international engineering group IMI, CCI's parent company, announced that it has acquired the control valves business of ABB KK in Japan, a leading provider of severe service control valves to the Japanese power industry.
The business has designed, manufactured and serviced control valves in Japan for more than 30 years, and has established a strong reputation with major Japanese power generating companies. Operating from Seishin, near Kobe, the operation employs around 70 people, including a talented and experienced management team, who will remain with the business.
Additionally 6m Pounds has been invested to further strengthen Control Component Inc.'s presence in other Asian markets. A new business has been established in China where IMI has 70% ownership in a joint venture with the Shanghai Power Station Auxiliary Equipment Works Co Ltd and full control has now been taken of the previously 50% owned joint venture in South Korea.
IMI Executive Director, David Nicholas commented:
"CCI's presence in Asian markets is significantly strengthened by these developments. The control valves business of ABB KK in Japan brings with it both a strong reputation in severe service applications and a substantial installed valve population."
"This acquisition, together with the developments in Korea and China, increases our capabilities in markets where there is strong demand for our severe service valve expertise."
