Paratech Signs Business Cooperation Agreement with Siemens... "Joint Project Execution"

[Asia Economy Reporter Hyunseok Yoo] Paratech, the No.1 fire protection specialist company in Korea, announced on the 12th that it has signed a strategic business cooperation agreement (MOU) with Siemens SI (Smart Infrastructure, CEO Jung Hajung), a global company headquartered in Germany.

Paratech is a leading company in fire protection construction capability, producing and selling sprinklers, expansion pipes, and more. Siemens SI is a supplier of intelligent solutions across the grid, including medium-voltage substations, a wide range of low-voltage and control products, through intelligent building systems such as disaster prevention, security, BAS, and HVAC.

This agreement was promoted to create synergy through business cooperation and joint project execution based on the expertise and extensive experience in fire prevention and disaster management possessed by both companies. The collaboration includes ▲ supply of fire protection products between the two companies ▲ formation of consortia and technical exchange for fire protection construction ▲ integrated brand marketing of the consortium ▲ exploration of other mutually cooperative fields.

By jointly responding through a consortium, with Paratech’s strength in fire mechanical equipment construction and Siemens’ accumulated technology in fire electrical construction, it is expected that the competitiveness in securing orders for fire protection construction will be strengthened and expanded in the future. Additionally, through collaboration with Siemens, which possesses outstanding technology in electrical and control fields, the digitalization of fire protection products is expected to be accelerated.

A Paratech official said, "This business agreement with Siemens SI will be an opportunity for Paratech to take a step forward," adding, "Paratech will take the lead in the digitalization of fire protection products that will drive the 4th Industrial Revolution era."