Bangkok--24 Apr--MT Multimedia
CPT, a provider of electrical power systems for machinery control and large industrial motors, is on a growth path after becoming a licensed partner of Siemens, a leading global engineering firm, for the production of world-class power distribution panels and the sale of SIEMENS accessories, which will enable it to tap demand in various industries and from infrastructure projects in Thailand. It expects to begin commercial operation in this year's fourth quarter.
Mr Somsak Limprasert, chief executive Officer of CPT Drives and Power Public Company Limited (CPT), a boutique provider of competitiveness-enhancing electrical power solutions for machinery control, including electrical power control equipment and systems for industrial plants and power substation installation and construction services, revealed that CPT has become a major partner of Siemens, a global leader in electrical engineering, automation and digital management, forming a licensed partnership with the latter for the production and supply of SIEMENS products and services.
Siemens will transfer its engineering know-how for the production of world-class standard power distribution panels and assist CPT in enhancing its capacity to serve businesses in virtually all industries that require reliable electrical power systems and advanced power distribution panels, which account for a more than 80% share of the power distribution panel market. The partnership with Siemens will give CPT the opportunity to expand its presence in the market.
"The establishment of a formal relationship with a global innovator in electrical engineering like Siemens is a guarantee of the world-class quality of the products manufactured by CPT. It is a significant milestone for CPT that will be followed by new business growth and the introduction of its power distribution panels in new industries", he said.
After striking the partnership deal, starting this year's second quarter CPT will send its staffs to receive overseas training that will make them fully capable of performing their roles in the production of first-rate power distribution panels. It will then develop prototypes. It expects to commence commercial operation in the fourth quarter.
Mrs Suwannee Singluedej, Senior Vice President and Head of Siemens Smart Infrastructure, noted that Siemens, a firm equipped with the technologies and innovations required for building intelligent infrastructure for industrial electrical systems, is aware of the importance of having a local partner who can increase its capacity and efficiently employ SIEMENS technologies to upgrade Thai industrial firms' production environment, and that its decision to ally with CPT will allow it to grow its presence in Thailand's power distribution panel market robustly. It is ready to provide the necessary support for the enhancement of CPT's production capacity through production training and technology transfers, and hopes to pursue additional projects with CPT in the future, she added.
Mr Dennis Gabriel Kristof, Sales & Business Development Director of Low Voltage Products, Siemens Smart Infrastructure Asia & Pacific, commented that Siemens is very pleased with the formation of CPT's partnership for the development and improvement of production capacity of industrial plants in Thailand, knowing that CPT possesses great strength and expertise, especially in the business involving power distribution panels, CPT's main product line, which can be drawn on to market the SIEMENS products to be deployed in the Thai market in the future.
Thanks to the ongoing public investment and the investment by foreign businesses relocating their manufacturing bases, Thailand is a strong market that offers high growth potential. This presents long-term growth opportunities for both Siemens and CPT.