MCO Creates South Korean-Based Company
By DJ Slater17 October 2018
Mitsubishi Heavy Industries Compressor Corp. (MCO) has established MHI Compressor Korea (MCO-K), a joint venture with Mitsubishi Corp. MCO-K, which began operations earlier this month, aims to continue Mitsubishi’s sales success in South Korea, which has purchased several compressors and drivers from MCO.
With the launch of MCO-K, MCO plans to expand sales in South Korea, using the new company to facilitate broader market development. MCO will also work closely with MHI and Mitsubishi Corp. to expand market share and strengthen the competitiveness of MCO products.
MCO has sold more than 200 compressors and drivers in the South Korean market, mainly for petrochemical plants. The ethylene and other petrochemical materials and products produced in South Korea are exported to China, where demand is expected to remain high. With its position in the area, MCO-K will be able to respond quickly to needs of South Korean end users, as well as provide overhauls, regular maintenance and aftersales service. MCO-K will also cooperate with South Korean EPC companies during the planning stage of plant projects.
MCO holds a 70% share of MCO-K, with 30% owned by Mitsubishi Corp. MCO-K has a four-person team, which will be expanded, led by MCO President Ryota Okada.