[Photo provided by Hanwha Precision Machinery]
Korea’s Hanwha Precision Machinery announced on Tuesday it has established a joint venture with Singapore’s precision machinery and factory automation company PBA Group to address growing demand for robots around Southeast Asia.
The new joint venture called PBA-Hanwha Robotics will combine Hanwha Precision Machinery’s expertise in motion control with PBA Group`s knowledge of precision machinery processing, system integration for factory automation and manufacturing.
PBA Group began its business by dealing with machine bearings and parts in 1987. Hanwha Precision Machinery aims to leverage the jv to expand its presence in the market of collaborative robots (intended to physically interact with humans in a shared workspace) in Southeast Asia. In March last year, Hanwha Precision launched its first co-robot HCR-5. The co-robot market, one of the most noteworthy markets in association with the fourth industrial revolution, has grown by about 60 percent CAGR.
With the jv, Singapore will be able to provide robots to Southeast Asian clients within four weeks without relying on imports, said Hanwha Precision Machinery, adding that co-robots from PBA-Hanwha Robotics will help make small and new manufacturers more competitive and create high value jobs in Singapore.
By Kang Doo-soon and Minu Kim
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