Sydney, April 16, 2009 (ABN Newswire) - Industrial technology company Savcor Group Limited (ASX:SAV) today confirmed that it has expanded the operations of its Advanced Rehabilitation Technology (ART) business into China and India.
The company has completed the acquisition of the Savcor CHEC business in China, a four-year joint venture between Savcor and China Harbour Engineering Corporation. The new company will be wholly owned by Savcor and trade as Savcor Corrosion Technology. Based in Guangzhou, the business already has a team of eight full time employees with experience in sales, marketing and project management.
Savcor has also commenced operations in India and has a start-up team of six full time employees at new premises in Bangalore. The business will trade as Savcor India Pvt Limited and is expected to be fully operational by May 2009.
Savcor's managing director Mr Hannu Savisalo says the ART business has the right teams in place in both markets and its immediate focus will be on marketing Savcor's range of advanced rehabilitation and structural monitoring technologies to potential customers in its core sectors.
"There is significant potential for the ART business in China and India. China is a market we know very well. We have operated a joint venture there for over four years and have completed a large number of projects, so we already have a foundation from which to expand.
"We have been conservative with our entry into both markets with the total investment being less than $2 million. Our strategy has been to invest in experienced people and we will be pursuing a number of organic growth opportunities.
"We see a lot of opportunity for conditional assessment, cathodic protection and structural monitoring in the building and essential infrastructure markets - sectors where we have considerable experience and a proven track record."
Mr Savisalo said that Savcor already has a good base from which to market its products in international markets. "As reported last month, the ART business has secured new projects in Russia and Norway in energy and marine sectors so we are already establishing a solid market presence."
Mr. Savisalo said that tendering activity in the ART business in Australia remains active and the company is pursuing a number of opportunities. Tendering opportunities in China and India have also been identified.
The company has completed the acquisition of the Savcor CHEC business in China, a four-year joint venture between Savcor and China Harbour Engineering Corporation. The new company will be wholly owned by Savcor and trade as Savcor Corrosion Technology. Based in Guangzhou, the business already has a team of eight full time employees with experience in sales, marketing and project management.
Savcor has also commenced operations in India and has a start-up team of six full time employees at new premises in Bangalore. The business will trade as Savcor India Pvt Limited and is expected to be fully operational by May 2009.
Savcor's managing director Mr Hannu Savisalo says the ART business has the right teams in place in both markets and its immediate focus will be on marketing Savcor's range of advanced rehabilitation and structural monitoring technologies to potential customers in its core sectors.
"There is significant potential for the ART business in China and India. China is a market we know very well. We have operated a joint venture there for over four years and have completed a large number of projects, so we already have a foundation from which to expand.
"We have been conservative with our entry into both markets with the total investment being less than $2 million. Our strategy has been to invest in experienced people and we will be pursuing a number of organic growth opportunities.
"We see a lot of opportunity for conditional assessment, cathodic protection and structural monitoring in the building and essential infrastructure markets - sectors where we have considerable experience and a proven track record."
Mr Savisalo said that Savcor already has a good base from which to market its products in international markets. "As reported last month, the ART business has secured new projects in Russia and Norway in energy and marine sectors so we are already establishing a solid market presence."
Mr. Savisalo said that tendering activity in the ART business in Australia remains active and the company is pursuing a number of opportunities. Tendering opportunities in China and India have also been identified.
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About Savcor Group Limited
Savcor Group Limited (ASX:SAV) is an industrial technology company specialising in materials technology with several applications in Advanced Rehabilitation Technology (ART) and nanotechnology coatings used in applications such as mobile phones. Savcor’s core customers are the leading companies and utilities in the Australian mining, energy and infrastructure sectors (Savcor ART) and the world’s leading mobile phone handset manufacturers using its ultra thin vacuum coating services (Savcor FACE). Savcor employs 1500 people throughout the world. www.savcor.com.au
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