With this acquisition, Yokogawa strengthens its focus on the Turkish market, which has great growth potential. This will allow Yokogawa to expand its business in promising areas such as the power industry. Through this acquisition, Yokogawa Electric will also strengthen its relationships with customers in Turkey.
Yokogawa Electric Group announced that its subsidiary Yokogawa Electric (Europe) Company has acquired 100% of shares in Birleik Endustriyel Sistemler VeTesislerA.(BEST), a distributor based in Izmir, Turkey. The share purchase was completed on November 25.
With this acquisition, Yokogawa strengthens its focus on the Turkish market, which has great growth potential. This will allow Yokogawa to expand its business in promising areas such as the power industry. Through this acquisition, Yokogawa Electric will also strengthen its relationships with customers in Turkey.
"As Yokogawa's distributor since 1977, BEST has built a strong reputation in the oil and gas sector and will continue to provide great value to its customers." Hermanvanden Berg, General Manager of Yokogawa Electric (Europe), commented, "Yokogawa Electric is committed to working with our customers to help them get the most value from their plant operations. This acquisition is an important step in our plan to expand our presence in emerging markets, particularly in our target industries, including the power and energy sectors."
Yokogawa celebrates its 100th anniversary in 2015 and will continue to work with its customers to create new value and achieve a better future. Yokogawa is now accelerating its transformation to continue its growth for the next 100 years. In order to share the essence of this vision with stakeholders and encourage all employees to work together to pursue this goal,
"Co-innovating" declares our determination to create value through long-term cooperation with customers to develop solutions. "tomorrow" expresses our belief that we are moving steadily and successfully into the future.
Inspired by this new slogan, Yokogawa Electric will strive to build a stronger relationship of trust with its customers and create new value and common development with them. This acquisition represents Yokogawa's determination to pursue these goals through a long-term partnership. In this way, Yokogawa further strengthens its mission to ensure the long-term success of its customers and contribute to building a sustainable society.
