Turck and Banner create Joint Venture in Asia
Long-standing strategic partners intensify their ASEAN activities with a joint venture in Singapore
As part of their internationalization strategy, Turck and Banner have joined forces to create their first Asian joint venture in Singapore. Both companies are partly involved in the new Turck Banner Singapore Pte Ltd. The joint venture as regional hub of the ASEAN region (Association of South East Asian Nations) shall further develop the Southeast Asian markets and accelerate growth in the region. In addition, Singapore will be established as a regional training center.
The joint venture is based in the German Centre in Singapore. It is headed by Chuck (Chol Seung) Choi, who was previously Managing Director of Turck Korea. The existing Turck team in Singapore is being supplemented by four Banner employees, so customers in that region will be supervised from specialists of both business partners. “The ASEAN region is a dynamic, rapidly growing region. Turck and Banner are partnering to be closer to our customers and leverage the collective synergies that our organizations bring to the marketplace”, Managing Director Choi says.
The partnership in the ASEAN region is not the first joint venture between the two companies. For many years, Turck and Banner Engineering have been successfully cooperating in Europe with joint ventures in England, France and Italy. In many other regions, Turck is the regional sales partner for Banner products.