ESI: Acquisition of the Vietnamese company: CAMMECH
Continuation of the multi-shoring development model and strategic strengthening of Asia presence
PARIS--(BUSINESS WIRE)--Regulatory News:
ESI (Paris:ESI), pioneer and world-leading provider of Virtual Engineering solutions, today announces the acquisition of the Vietnamese company Cam Mechanical Solutions Co., Ltd, (CAMMECH). This facilitates the creation in Asia of a ‘near-shore’ services division that will be dedicated to execution of high value-added projects.
Based in Hô-Chi-Minh city, CAMMECH employs a team of 10 highly qualified engineers which will serve as a foundation for further expansion in Computer-Aided Engineering (CAE).
This acquisition brings to ESI an enhanced understanding of the Vietnamese market and, in that context, the expertise of a local and highly competent partner fully operational with a skilled management team. This platform also facilitates recruitment of experienced engineers, ready to operate immediately.
This new regional foothold is part of the growth strategy within which ESI Group aims to:
- support companies who are already investing in virtual prototyping as a platform for product development and foster the interest of new companies and new business sectors in this disruptive technology.
- develop centers of competency in economically attractive countries that also noticeably achieve high levels of education in science and engineering.
Based on its successful experience with its Tunisian subsidiary, which has supported European customers since 2009, ESI is thus replicating the foundation of a production center in the Far East, with the objective of delivering high end projects for its Asian customers.
The extension of our worldwide presence will assist our Asian customers to implement necessary changes as they expand the use of virtual prototyping to spur innovation and to retain their international competitive edge.
Lech Tomasz KISIELEWICZ, Executive Vice-President for ESI ‘Services Operations’, comments: « The acquisition of the CAMMECH company allows the extension of our multi-shore coverage in Asia and the opening of a new center of competency close to our customers on this continent. Through this new foothold we will meet the growth in demand for our services both on local and continental markets, and more specifically in Japan and South Korea. We are also pleased to welcome a new highly experienced team on which we can count to support the Group’s development in Asia and around services dedicated to high value-added projects. »
About Cam Mechanical Solutions Co., Ltd. (CAMMECH).
CAMMECH was founded in 2010 to deliver technical assistance services within the CAD area to Vietnamese industrials and international transplants. The company employs 10 engineers and technicians.
In front of the industrials’ emerging demand for virtual engineering services, ESI appeared as an ideal partner to deliver solutions with high value-added for local customers.
ESI is a pioneer and world-leading provider in Virtual Prototyping that takes into account the physics of materials. ESI boasts a unique know-how in Virtual Product Engineering, based on an integrated suite of coherent, industry-oriented applications. Addressing manufacturing industries, Virtual Product Engineering aims to replace physical prototypes by realistically simulating a product’s behavior during testing, to fine-tune fabrication and assembly processes in accordance with desired product performance, and to evaluate the impact on product use under normal or accidental conditions. ESI’s solutions fit into a single collaborative and open environment for End-to-End Virtual Prototyping. These solutions are delivered using the latest technologies, including immersive Virtual Reality, to bring products to life in 3D; helping customers make the right decisions throughout product development. The company employs about 1,000 high-level specialists worldwide covering more than 40 countries. ESI Group is listed in compartment C of NYSE Euronext Paris.
For further information, visit www.esi-group.com.
ESI is the leader and a pioneer in virtual prototyping solutions.
Stock market information
Listed on compartment C of the NYSE Euronext Paris
ISIN FR 0004110310
Bloomberg ESI FP
Granted “entreprise innovante” (innovative company) certification on January 20, 2000 by OSEO, ESI Group is eligible for inclusion in FCPI (venture capital trusts dedicated to innovation).
2013 annual sales:
March 13th, 2014
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