Jun 20, 2008
Open Systems International, Inc. (OSI), the leading provider of open automation solutions to utilities worldwide, announces the establishment of a wholly foreign owned enterprise (WFOE) in Beijing, China. A WFOE is a Chinese legal entity licensed to do business in China.
OSI's established WFOE, known as OSI Automation Software Systems (Beijing) Co., Ltd., will serve as a center for strategic business operations in the region, helping the company to become a larger player in China's electric and network automation markets. The new office, which is located in Beijings Chaoyang Business District, will support business development activities, engineering, project implementation and support for OSI projects in the region.
The current market in China for energy management and monitoring systems is growing rapidly as part of China's rapid industrialization and development of quality of life. OSI's new operations will allow it to more effectively compete in this market and OSI believes that establishing a WFOE in Beijing will play an integral part in the company's future success globally.
"China is the second largest electric utility market in the world after North America and the tremendous growth potential in this sector, as well as other network control segments such as oil and gas, provide OSI with great opportunities for expansion. With our presence in China we will be able to bring OSI's superior technology to utilities in the region while leveraging local project implementation, development and support infrastructures," said Bahman Hoveida, President and CEO of OSI.
"Flourishing China needs world-class leading technologies and products to achieve rapid and persistent development. As a leading provider of advanced automation solutions, OSI will make more great contributions to Chinas industrialization and modernization," said Dr. Guo Jian, Managing Director, OSI Automation Software Systems (Beijing) Co., Ltd.
OSI (www.osii.com) provides open, state-of-the-art, and high-performance automation solutions to utilities worldwide. These solutions include Supervisory Control and Data Acquisition (SCADA) Systems, Network Management Systems (NMS), Energy Management Systems (EMS), Distribution Management Systems (DMS) and Generation Management Systems (GMS), as well as individual software and hardware products and e-business solutions for utility operations. OSI is headquartered in Minneapolis, Minnesota, USA.
For additional information regarding this news release please contact news@osii.com.
