Thursday, August 21st, 2014
SEOUL, KOREA - LS Industrial Systems announced on August 20 that it signed with Asia General Electric Co., Myanmar's largest electric equipment maker, to supply 3,000 vacuum circuit breakers for the next five years. Under the terms of the agreement, the equipment that LS Industrial Systems will supply including the vacuum circuit breakers will be sold in Myanmar as finished products after cables and other components are added.
Of the 210 vacuum circuit breakers to be delivered with the year's end, the Korean company will supply 140 circuit breakers within this month, followed by other items such as relays and mold transformers. The total supply volume is US$13 million for the whole length of the contract.
Under the comprehensive technical cooperation deal, the Korean company will lend full support to Asia General Electric in its effort to develop locally customized items. Established in 2008, Asia General Electric is No. 1 in Myanmar in terms of high-voltage transformers and switch boards, with customers in oil and gas companies.