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Tyco Electronics Signs Memorandum of Understanding with China Putain Corp.
January 30, 2003 |Estimated reading time: 1 minute
Dallas -- Tyco Electronics Power Systems and China Putian Corp. signed a Memorandum of Understanding for Strategic Cooperation in Wuhan, China on January 8, 2003.
The signing was witnessed by local government officials and telecommunications service partners.
In the agreement, China Putian will sell and distribute Tyco Electronics Power Systems' telecom power products in the Greater China region starting with the Galaxy Power Systems (GPS) technology platform. Wuhan Putian, a subsidiary of China Putian, will manufacture and integrate GPS products into its systems in accordance with Tyco Electronics' design and quality specifications.
This past summer, Tyco Electronics opened a new design and customer service center in Shanghai to support both China and Asia-Pacific markets. The facility offers complete design capabilities to speed time-to-market and provides local sales and customer service support. Local product design and operations better serve global OEM customers with a rapidly growing presence in the region.
China is one of the fastest growing regions for telecommunications OEMs. According to industry analysts at Gartner Dataquest, China's telecom industry will reach $27 billion by 2006. Asia represents 18 percent of Tyco Electronics' revenue and it currently supports eight plants in China and 12,000 employees. The company expects its efforts in China will account for a quarter of Power Systems' revenue by 2004.
Tyco Electronics Power Systems, a division of Tyco Electronics, is a leading global provider of innovative, reliable power supply products including AC-DC and DC-DC switching power supplies, batteries and complete communications and energy power systems. Tyco Electronics Power Systems also offers custom design, engineering, installation and technical support services to its customers. For more information, visit www.tycopower.com.
China Posts and Telecommunications Industry Corp. is the predecessor of China Putain Corp. It was founded in 1980 and affiliated to the Ministry of Posts and Telecommunications and the Ministry of Information Industry successively.