On Jan. 8, 2003, Tyco Electronics Power Systems, Dallas, Texas, and China Putian Corp. signed a Memorandum of Understanding for Strategic Cooperation in Wuhan, China. Government officials witnessed the signing, as did telecommunications service partners.
In the agreement, China Putian will sell and distribute Tyco Electronics Power Systems' telecom power products in the Greater China region starting with the Galaxy Power Systems (GPS) technology platform. Wuhan Putian, a subsidiary of China Putian, will manufacture and integrate GPS products into its systems in accordance with Tyco Electronics' design and quality specifications.
“Our local presence in China will produce a more competitive offering to regional customers and reduce costs,” said Mickey Miller, vice president of Tyco Electronics Power Systems. “This agreement combines China Putian's powerful brand, sales network, and manufacturing expertise with our global experience and award-winning products. We're confident this alliance will continue to bring success in the growing Asian market.”
This past summer, Tyco Electronics opened a new design and customer service center in Shanghai to support both China and Asia Pacific markets. The facility offers complete design capabilities to speed time-to-market and provides local sales and customer service support. Local product design and operations better serve global OEM customers with a rapidly growing presence in the region.
Vice President Bao Kangrong of China Putian Corp. said of the agreement, “Putian's strong reach in the telecommunications market in China provides the foundation for this collaboration. Tyco Electronics, known for its reliable products and long-standing technology, provides the suitable technology and product platform to develop the next-generation telecommunication power needs. We believe the strengths of Putian and Tyco Electronics will come together to provide the customer with the best products and services.”
China is one of the fastest growing regions for telecommunications OEMs. According to industry analysts at Gartner Dataquest, China's telecom industry will reach $27 billion by 2006. Asia represents 18% of Tyco Electronics' revenue, and it currently supports eight plants in China and 12,000 employees. The company expects its efforts in China will account for a quarter of Power Systems' revenue by 2004.
For more information, visit www.tycopower.com.
