Hitachi Launching Maintenance Company for Power Plant in Singapore.Business Editors/High-Tech Writers TOKYO--(BUSINESS WIRE)--Dec. 19, 2000 Hitachi, Ltd. (NYSE NYSE See: New York Stock Exchange :HIT / TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : 6501) today announced the launch of a maintenance company in Singapore for power plants. This maintenance company, Asia Plant Maintenance Service Pte Ltd PTE LTD Private Limited , is a joint-venture project amongst Hitachi, Ltd., Babcock-Hitachi K.K., Hitachi Asia Ltd. and Asia Project Engineering Pte Ltd (APECO APECO Asia Pacific Economic Cooperation APECO Antenne régionale pour les Pays de l'Europe Centrale et Orientale ). APECO deals in the construction and maintenance work of power plants for more than 30 years in Singapore The following lists detailed Singaporean historical events by year. For a general overview, see Timeline of Singaporean history.
Katsukuni Hisano is the Chief Executive Officer of Hitachi's Power & Industry Systems Group. He said: "The formation of Asia Plant Maintenance Service Pte Ltd in Singapore is part of our expansion plans. With Singapore as our base, we hope to introduce our maintenance business for power plants to the other parts of the world." Privatization privatization: see nationalization. privatization Transfer of government services or assets to the private sector. State-owned assets may be sold to private owners, or statutory restrictions on competition between privately and publicly owned of the Power Industry has been taking place in many parts of the world. In Singapore, privatization of power utilities has already begun. Also, the electricity pool market has been already started and electricity utilities will be fully privatized in April 2001. Hitachi understands that with tougher competition amongst the power producers, a more reliable, stable and efficient power plant operation is required. Hence, Hitachi wish to meet the market requirements by providing a comprehensive maintenance service package. This new maintenance strategy includes preventive maintenance The routine checking of hardware that is performed by a field engineer on a regularly scheduled basis. See remedial maintenance. preventive maintenance - (PM) To bring down a machine for inspection or test purposes. See provocative maintenance, scratch monkey. service, engineering technical support, proposing rehabilitation rehabilitation: see physical therapy. and improving plant efficiency, etc. Currently, there is no company who provides such a comprehensive maintenance service package in Singapore. Asia Plant Maintenance Service Pte Ltd is thus formed to meet these needs. We believe it will contribute to the Power Industry in Singapore. Some of its initial services include providing maintenance service such as engineering work, supplying of equipment and / or spare parts Spare parts, also referred to as Service Parts is a term used to indicate extra parts available and in proximity to the mechanical item, such as a automobile, boat, engine, for which they might be used. Spare parts are also called “spares. , maintenance work such as overhauling, etc. Eventually, it seeks to offer a complete range of comprehensive maintenance service works in the near future. Furthermore, it aims to offer this maintenance service to the other countries, with Singapore as its base. About Hitachi, Ltd. Hitachi, Ltd., headquartered in Tokyo, Japan, is one of the world's leading global electronics companies, with fiscal 1999 (ended March 31, 2000) consolidated sales of 8,001 billion yen ($75.5 billion(a)). The company manufactures and markets a wide range of products, including computers, semiconductors, consumer products and power and industrial equipment. For more information on Hitachi, Ltd., please visit Hitachi's Web site at http://global.hitachi.com. About Hitachi Asia Ltd. Established in 1989, Hitachi Asia Ltd., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Hitachi, Ltd., oversees the marketing, sales and procurement operations of Hitachi for Asia, excluding Japan. In addition to its regional headquarters (RHQ RHQ Regional Headquarters RHQ Rune HQ (Runescape website) RHQ Rear Headquarters ) in Singapore, the company has 20 other subsidiaries and offices spread across 10 Asian countries Noun 1. Asian country - any one of the nations occupying the Asian continent Asian nation country, land, state - the territory occupied by a nation; "he returned to the land of his birth"; "he visited several European countries" . Hitachi Asia markets a wide variety of products including power and industrial systems, industrial systems and components, information systems and electronic components. Hitachi Asia has more than 800 employees and its sales totalled more than S$5.1 billion (US$3 billion(b)) for the fiscal year ending 31 March 2000. For more information about Hitachi Asia, please visit its website at http://www.hitachi.com.sg.
Outline of the New Company
Name: Asia Plant Maintenance Management Service Pte Ltd
Location: 32 Penjuru Road, Jurong, Singapore
Managing Director: Toshiki Sugihara
Capitalization S$500,000
Equity ratio: Hitachi Group: 30%
(Hitachi, Ltd. 10%;
Babcock-Hitachi K.K. 10%,
Hitachi Asia Ltd 10%.),
APECO 70%
Nature of Business Maintenance Service for Power Plants
(Plant Maintenance Service, Engineering,
Procurement, etc.)
Establishment: December 2000
Outline of APECO
Name Asia Projects Engineering Pte Ltd
Location 32 Penjuru Road, Jurong, Singapore
Managing Director: Toshiki Sugihara
Capitalization: S$1,500,000
Equity ratio: Babcock-Hitachi K.K. 40%, Others 60%
Nature of Business Construction, Installation and Maintenance
of Power Plant, Crane and other Industrial Plant
Establishment: June 1969
(a) At an exchange rate of 106 yen to the US$
(b) At an exchange rate of 1.7 S$ to the US$.
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