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Metal One Signs Memorandum of Investment and Participation in Myanmar Transformer Manufacturer From Value One, Spring 2013 No.40

Entering Myanmar's Market with Meidensha

Left to right: Takehiro Honda, CRO of ASEAN and Oceania; Kozo Masaki, executive vice president of Meidensha; Nuan Yun Oo, director of Yangon Bureau, Ministry of Industry of Myanmar; Win Aung, president, the Republic of the Union of Myanmar Federation of Chambers of Commerce & Industry; and Chit Khaing, chairman of AGE

Metal One, Meidensha Corporation, and Asia General Electric Co., Ltd. (AGE)—Myanmar's largest manufacturer of transformers for electric power companies—signed a memorandum of understanding in December last year regarding plans of Metal One and Meidensha for investments and board participation in AGE.

Democratization is proceeding in Myanmar, and increasing demand for transformer substations is anticipated as the country prepares to meet the expected robust demand for electric power. The transformer substations currently installed are obsolete, and the resulting electric power losses have become a major obstacle to economic growth. There is an urgent need to build transmission and distribution grids.

AGE will manufacture the latest types of transformers, in sizes small to large, through a technical tie-up with Meidensha, which will also help to renovate or replace aging facilities. Meidensha will gain its second Southeast Asian manufacturing and retailing site to supplement the one it has in Singapore. Metal One will increase its supplies of grain-oriented electrical steel sheet and other types of sheet for transformers, making it more of a force in Myanmar's steel market.

(Products for Electrical Industries & Steel Sheet Department)

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