CPT Drives and Power PCL secure partnership with Siemens

CPT Drives and Power PCL (SET: CPT), a provider of industrial power and control systems, has become a licensed partner of Siemens, the leading global engineering firm, for the production of power distribution panels and sales of SIEMENS accessories - which will enable CPT to tap demand across various industries and infrastructure projects in Thailand. It expects to begin commercial operation 2019/Q4.

Siemens will transfer engineering know-how for the production of world-class standard power distribution panels and assist CPT in enhancing its capacity to serve businesses in virtually all industries that require reliable electrical power systems and advanced power distribution panels, which account for a more than 80% share of the power distribution panel market. The partnership with Siemens will give CPT the opportunity to expand its presence across markets in Thailand.

Mr Somsak Limprasert, CPT Chief Executive Officer, in announcing the major partnership with Siemens, said, "The establishment of a formal relationship with a global innovator in electrical engineering like Siemens is a guarantee of the world-class quality of the products manufactured by CPT. It is a significant milestone for CPT that will be followed by new business growth and the introduction of its power distribution panels in new industries."

After striking the partnership deal, starting in this quarter CPT will send its staff to receive overseas training that will make them fully capable of performing their roles in the production of first-rate power distribution panels. It will then develop prototypes. It expects to commence commercial operation in the fourth quarter.

Mrs Suwannee Singluedej, Senior Vice President and Head of Siemens Smart Infrastructure, said "Siemens is aware of the importance of having a local partner who can increase its capacity and efficiently employ SIEMENS technologies in upgrading Thai industrial firms' production environment. Seimens decision to ally with CPT will allow it to grow its presence in Thailand's power distribution panel market robustly. We are ready to provide the necessary support for the enhancement of CPT's production capacity through production training and technology transfers, and hopes to pursue additional projects with CPT in the future."

Mr Dennis Gabriel Kristof, Sales & Business Development Director of Low Voltage Products, Siemens Smart Infrastructure Asia & Pacific, said, "Siemens is very pleased with CPT's partnership in the development and improvement of production capacity of industrial plants in Thailand. CPT possesses great strength and expertise, especially in power distribution panels, which can be drawn on to market SIEMENS products in the Thai market. With the ongoing public investment and foreign businesses relocating their manufacturing bases, Thailand is a strong market with high growth potential presenting long-term growth opportunities for both Siemens and CPT."

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