Kobe Steel Sets Up Southeast Asia Subsidiary
07/27/2017 - Japan’s Kobe Steel Ltd. has established a new subsidiary serving south and southeast Asia and will open its regional headquarters in Thailand next month, the company has said.
Called Kobelco South East Asia Ltd. (KSEA), the subsidiary will centrally house corporate governance, compliance, finance and other management functions related to its operations in that part of the world.
Kobe currently has 30 companies operating in six countries within the region. The companies are mainly tied to its materials and machinery businesses. Kobe also last year established a joint venture in Thailand to produce and sell wire rod.
“Since risks associated with business activities have become more complex and numerous, in addition to diverse languages, business practices and laws, a regional headquarters is required to effectively deal with these conditions and coordinate operations in the two regions,” the company said.
“With KSEA as the central base, Kobe Steel plans to strengthen business management in Southeast Asia and South Asia. It will also provide support to group companies, promote personnel exchanges and strengthen cooperation among the group companies,” it added.
Kobe currently has 30 companies operating in six countries within the region. The companies are mainly tied to its materials and machinery businesses. Kobe also last year established a joint venture in Thailand to produce and sell wire rod.
“Since risks associated with business activities have become more complex and numerous, in addition to diverse languages, business practices and laws, a regional headquarters is required to effectively deal with these conditions and coordinate operations in the two regions,” the company said.
“With KSEA as the central base, Kobe Steel plans to strengthen business management in Southeast Asia and South Asia. It will also provide support to group companies, promote personnel exchanges and strengthen cooperation among the group companies,” it added.
