Fuji Electric targets Thai group
Japan's Fuji Electric Co (FE) will take a majority stake in Thailand's Tusco Trafo group, which manufactures, sells and maintains transformers, switchboards and control panels, Fuji Electric president Michihiro Kitazawa said.
The acquisition will be made through FE subsidiaries Fuji Electric Power Supply (Thailand) Co and Fuji Electric (Thailand). The capital investment will be made on October 1.
After the transaction, Tusco will be renamed Fuji Tusco Co, with registered capital of Bt866 million. FE group will hold a total 67.7 per cent stake, of which Fuji Electric Power Supply Co will hold 49 per cent and Fuji Electric (Thailand) 18.7 per cent. Tusco Holding Co will have the remaining 32.3 per cent.
Kitazawa said that his company foresaw investments in social and industrial infrastructure in Asia were growing, and foreign investments including those from Japan were accelerating. FE is also trying to establish consistent value chains in the area from planning through manufacturing to sales.
Tusco, headquartered in Samut Prakan, is one of the most influential transformer manufacturers in Thailand, and has a good track record not only here but elsewhere in Southeast Asia as well as Africa, FE noted.
By taking a majority stake in Tusco, FE will make use of its resources to expand its power transmission and distribution business in Asia.
The Japanese company will make the best use of Tusco’s latest facilities and expand FE’s line of transformers.
The company will expand sales and meet customers’ demands for system replacements by utilising Tusco’s sales and service network.
Tusco group currently supplies products both in the domestic market and in more than 36 countries.
