Official statement by EDMI Managing Director, Lee Kwang Mong:
As of 30 March 2012, Osaki Electric Co., Ltd has completed the acquisition of all shares of SMB United Limited, parent company of EDMI Limited. As such, EDMI Limited is now a wholly owned subsidiary of Osaki Electric Co., Ltd.
With the addition of SMB United, the Osaki group will now have annual sales revenue in excess of USD 700 million and some 2,500 employees spread throughout the globe. This allows Osaki to introduce EDMI’s advanced smart metering technologies, experience and global exposure into the evolving Japanese smart meters/grid market. In addition, this gives EDMI and its customers, access to Osaki’s manufacturing technology, extensive global sales and service coverage.
This development is a significant boost to our financial strength, manufacturing capacity, competency and quality assurance system, allowing us to better serve our customers. We thank you for your business and look forward to your continuous support in the coming years.