Furuno Electric Co., Ltd. (Head Office: Nishinomiya, Hyogo Prefecture, President: Yukio Furuno) announced that they have signed on Strategic Cooperation Framework Agreement with China COSCO Shipping Corporation Limited (COSCO SHIPPING, Head Office: Shanghai, China, Chairman: Mr. Xu Lirong) to form a new strategic partnership.
Since its establishment, FURUNO has been expanding its global business and proudly known as the world-leading company with its core business of research & development, sales, and after-service of marine electronics equipment.
COSCO SHIPPING, which forms huge maritime industry group by holding companies engaged in shipbuilding, ports and logistics business, boasts its dominance over the world’s largest number of fleet of almost 1,100 vessels and the fourth largest share of container ships operated in the world.
Under the same vision of long-lasting partnership which is to be a robust foundation to complement and bring out each other’s strength, FURUNO and COSCO SHIPPING reached this agreement. They are expecting for advanced joint market research, and supply of communication and navigation equipment in the future.
This partnership agreement is concluded in a three-way including Heisei Trading. Co., Ltd. (Headquarters: Kobe, Hyogo Prefecture, President: Mr. Tomohiro Imae), an important distributor dealing with business in Chinese marine electronics market for FURUNO.
FURUNO, COSCO SHIPPING, and Heisei Trading intend to take first step forward by starting discussion on the object theme and then progress to detailed examination of each individual projects to be promoted.