Saturday, October 26, 2013
Oval To Establish Mass Flow Meter Plant In S Korea
TOKYO (Nikkei)--Measuring and control equipment manufacturer Oval Corp. (7727) will set up this fiscal year a plant in South Korea to assemble mass flow meters.
The flow meters are used to measure the amount of oil and other substances in a pipeline.
With replacement demand for the devices picking up at aging petrochemical and chemical plants in South Korea, Oval aims to boost sales there from around 10 billion won, or roughly 900 million yen, to 12 billion won.
Local joint venture Oval Engineering Inc. will oversee production.
(The Nikkei, Oct. 26 morning edition)