OR WAIT null SECS
Kobe Steel, Ltd. has recently announced that it will establish two 100% owned companies in July, one in Europe and the other in the Middle East, to expand the global marketing and servicing of its compressors.
(A nonstandard compressor)
Kobelco Machinery Europe will be set up in Munich, Germany to strengthen the marketing of Kobe Steel's nonstandard compressors in Europe. It will also procure parts for use in the manufacture of compressors in Japan. The new subsidiary will be capitalized at 100,000 euros (about 10 million yen) and employees will increase from the current staff of seven to eight.
Kobelco Machinery Middle East FZE will be established in Dubai, United Arab Emirates. To be located at Dubai Airport Freezone, the company will provide after-sales services for nonstandard compressors sold in the Middle East. The unit will be capitalized at 1 million UAE dirhams (about 20 million yen) and the employee strength will increase from three to five.
Kobe Steel has only representative offices in Germany and the UAE. By turning these offices into companies, it will be able to strengthen compressor marketing, parts procurement and after-sales services. The company is a comprehensive manufacturer of screw, centrifugal and reciprocating compressors, and estimates that it has a 40% share of the world market for nonstandard screw compressors. Nonstandard compressors are used in petrochemical plants, natural gas plants and other large facilities.