IDEC Corporation announces the establishment of sales subsidiary in India
Published on : Friday 06-03-2020
By : IA News Service
IDEC has identified Asia Pacific, driven from Singapore regional headquarters, as one of the key regions to achieve its ambitious global expansion goal.
Bangalore, February 7, 2020 – IDEC Corporation (Chairman and CEO: Toshiyuki Funaki) has announced the establishment of a sales subsidiary in Bangalore for the purpose of expanding IDEC’s business in India. The new subsidiary will begin operations in February 2020. Arnaud Mondi will be the Chairman) and Shuhei Sugihara, President of the India operations.
IDEC has identified Asia Pacific, driven from Singapore regional headquarters, as one of the key regions to achieve its ambitious global expansion goal. In order to accelerate growth in the region, the company has decided to establish a sales subsidiary in India, the world fastest growing economy with a 1.3 billion strong population and promising sustainable and stable growth perspectives, said the announcement.
“We view the rapidly-growing automotive industry as a key market driver for our expansion plan in India and will capitalise on our core competencies and the strengths of our diverse control products and solutions, specifically our push-buttons and safety-related devices, to achieve exponential growth. We will leverage our strategically located production base in Thailand and other factories around the world at the beginning and consider localising R&D and manufacturing in the future. With the establishment of our India subsidiary, we aim at providing even better support and high-value services to our customers and partners in India, striving to further improve our customers’ satisfaction,” it stated further.
IDEC, as the leader in the Human-Machine Interface (HMI) field, aims to create an optimum environment between people and machines and to become the company achieving the world’s highest level of safety and peace of mind.
IDEC was founded in Japan as Izumi Shokai in 1945. Izumi Shokai incorporated Izumi Denki Co Ltd in 1947 (the company’s name was changed to IDEC Corporation in 2005). Since the beginning, the company has presented control solutions in a diverse range of fields as a general manufacturer of control devices, particularly in the area of factory automation. The scope of business includes the development, production, and sales of various control device products that achieve “safety,” “productivity improvement,” and “lower environmental impact.” It also extends to manufacturing sites as well as settings that are more familiar in daily life, such as stores and buildings. The company stands at the top of Japan’s control switch market with a share of approximately 50%