NewswireToday - /newswire/ -
Tokyo, Japan, 2011/04/26 - On Wednesday, April 20, Voith Fuji Hydro and Ebara Corp. agreed on the transfer of Ebara's complete hydro turbine business to Voith Fuji Hydro, a Joint Venture of Fuji Electric and German Voith Hydro, starting June 1. FSE: VO2A
Executives of all companies attended the signing ceremony in Tokyo. "Japan has for more than 100 years been an important market for Voith that we feel strongly committed to", said Dr. Roland Muench, President and CEO of Voith Hydro. "This investment will serve to further strengthen our position in the Japanese hydro power market. Our confidence in our Japanese customers and business partners remains unshaken, particularly in these difficult times after the tragic events in Northeast Japan".
Ebara aims to further grow in its core competencies and excel in the fluid machinery equipment business with specific focus on pumps and compressors. By transferring its hydro turbine activities to Voith Fuji Hydro, Ebara ensures to provide their customers the opportunity to be continuously served by one of the world's leading hydro manufacturers.
Voith Fuji Hydro takes pride in being the only Japanese full-line supplier in the hydro power market with a truly comprehensive approach - whereas local competitors either have moved their entire hydro operation to China or are quite restricted to their domestic business. The company has a successful history of collaboration with Fuji Electric and is deeply rooted in the Japanese market, while being equally integrated into the state-of-the-art technology network of the globally operating Voith Hydro Group.
As Dr. Martin Kuechle, President of Voith Fuji Hydro, said: "Ebara, Voith Fuji Hydro and Fuji Electric live up to the same values. We are determined to proceed in providing high-quality and reliable support to all our Japanese customers by this expanded hydro buiness set-up".
Voith Hydro (voithhydro.com) is a Group Division of the German company Voith and - with a workforce of currently almost 5,200 employees and a sales volume of almost 1.2 billion Euros in the business year 2009/2010 - belongs to the world-wide leading companies for hydro power equipment. Voith Hydro is selling hydro power equipment in Japan for over 100 years. In 1997, the Joint Venture Voith Fuji Hydro was established with its long-term business partner Fuji Electric Corp., Tokyo, to specifically serve the Japanese hydro power generation market.
Voith (voith.com) sets standards in the markets energy, oil & gas, paper, raw materials and transportation & automotive. Founded in 1867, Voith employs almost 40,000 people, generates €5.2 billion in sales, operates in about 50 countries around the world and is today one of the biggest family-owned companies in Europe.
Fuji Electric Corp, Ltd. Japan, is a publicly listed corporation with sales of approx. 700 Bil JPY, more than 23,000 employees, and was established in 1923. Being focused on energy and environmental solutions, electronic devices and retail systems, Fuji Electric is a group based on power electronics technology.
Ebara Corporation, Japan, is a publicly listed corporation with sales of 500 Bil JPY and 14,000 employees worldwide. Founded in 1912, Ebara Corporation has grown to become one of the world's principal manufacturers of industrial machinery, based especially on its fluid machinery and systems business, with particularly strong positions in pumps and compressors as well as other related products.