By Sarah Byrne
AFTER acquiring consultancy KBC Advanced Technologies, Yokogawa Electric Corporation is still on the lookout for new ideas and developing its in-house capabilities through acquisition.
Speaking to Oil & Gas Australia on the sidelines of a Yokogawa Australia networking event at LNG18 in Perth, Yokogawa senior vice president Satoru Kurosu said the company was transforming itself to be more customer focused.
“We can’t do everything, so we look to acquire,” he said.
Mr Kurosu said the company’s recent acquisition of KBC transformed the business into a one-stop solution for consulting, planning, implementation and delivery of solutions for the industry.
“KBC and Yokogawa would, together, be able to provide consultancy, supply control equipment and servicing seamlessly throughout the customer’s asset life-cycle. We expect this integrated service would create additional value for its existing and new customers and enable further technology and product innovation.”
KBC became a member company of the Yokogawa group on 7 April 2016, though the KBC brand name will be retained at this stage.
As a result of this acquisition, Yokogawa believes it will strengthen its position as a player in the industrial automation sector by being able to provide a range of services and products including consulting, packaged software, control systems and sensors.
This allows the company to provide a one-stop solution to the entire spectrum, from client senior management down to field operators, mainly in the oil and gas industry.
Under its Transformation 2017 plan, Yokogawa plans to expand its solutions service business by engaging its customers in a co-innovation process which it hopes will add value by achieving a company-wide optimisation of business operations.
By merging KBC’s advanced solution technology with Yokogawa’s measurement, control and information technologies and the cloud platform that the group acquired through the acquisition of Industrial Evolution in December last year, Yokogawa plans to become a leader in advanced solutions.
Technology and knowledge used to form predictive data is a powerful combination for companies looking to avoid operational issues and implement maintenance and asset improvement, Mr Kurosu said.
“This kind of knowledge and data is a powerful combination,” he added.KBC is a provider of software and consultancy to the global oil and gas industry, which has been providing a blend of advanced software for process optimisation and simulation and consulting services.
Established in 1989, Yokogawa Australia is a wholly owned subsidiary of Yokogawa Electric Corporation and has branches in New South Wales, Queensland, Victoria, South Australia and Western Australia.