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Samsung Techwin Co., a South Korean power systems, automation and defense contractor, said Thursday that it won a deal to supply industrial air compressors to a Saudi gas plant.
The company, which did not go into details about price, said it will supply 17 compressors that can be used to make gas oil to the Shaybah natural gas liquids plant complex in the Middle Eastern country. The NGL plant is being built by Samsung Engineering Co.
Both Samsung Techwin and Samsung E&G are part of the Samsung Group, South Korea’s largest family-owned business conglomerate.
“Securing the deal marks the first time that a local company has beat overseas rivals in the high value-added industrial compressor business,” a company source said.
The global market for the compressors is currently dominated by such companies as Atlas Copco and Ingersoll Rand.
The company said that the winning of the latest contract will permit it to make headway in this field down the road.
Samsung Techwin, meanwhile, said that it aims to push up energy equipment related sales to $1 billion by 2015 and $3.5 billion five years later, which could allow it to become a strong global competitor in this field. (Yonhap News)
The company, which did not go into details about price, said it will supply 17 compressors that can be used to make gas oil to the Shaybah natural gas liquids plant complex in the Middle Eastern country. The NGL plant is being built by Samsung Engineering Co.
Both Samsung Techwin and Samsung E&G are part of the Samsung Group, South Korea’s largest family-owned business conglomerate.
“Securing the deal marks the first time that a local company has beat overseas rivals in the high value-added industrial compressor business,” a company source said.
The global market for the compressors is currently dominated by such companies as Atlas Copco and Ingersoll Rand.
The company said that the winning of the latest contract will permit it to make headway in this field down the road.
Samsung Techwin, meanwhile, said that it aims to push up energy equipment related sales to $1 billion by 2015 and $3.5 billion five years later, which could allow it to become a strong global competitor in this field. (Yonhap News)
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Articles by Korea Herald
