On July 3, 2019, Siveco China held its half-year management meeting at the prestigious Hellas House in Shanghai, a nod to the company's continuing growth on the Belt & Road. With financial results above target, high customer satisfaction (as shown in the latest audited customer satisfaction survey) and a sales pipeline more promising than ever, the company's management board announced that shareholders have approved its request for additional investment in China during the second half of 2019.
Most of the investment will fund the development of the next generation of the bluebee® Smart O&M solution suite: an early version, codenamed bluebeeX, was demonstrated during the meeting at Hellas House. In parallel to this core development, additional efforts will be put Machine Learning to utilize the vast amount of structured data accumulated by Siveco's multisite clients using bluebee® mobile and IoT, based on the first projects already conducted with partners in the past few years. As part of the global partnership between Alibaba Cloud and Siveco, the integration of bluebee® within the Alibaba ecosystem will be deepened, in particular its ET Brain AI platform. All new developments will be carried out at the bluebee® lab, Siveco Shanghai R&D center, initially set up in 2009. Marketing expenditures will also be increased accordingly.
According to Siveco China & Asia Managing Director Bruno Lhopiteau: "I am especially proud to announce this new investment in China, at a time when foreign competitors are withdrawing from the market citing lack of profitable perspectives. In China for almost 15 years, a pioneer of Smart O&M, we are profitable and see excellent growth opportunities in our various target segments. For the second half of 2019, we are effectively doubling our R&D and marketing budgets."
He added: "To complement our organic growth, Siveco is also considering potential acquisitions of technology and business partners in China and Southeast Asia. I would like to thank our clients and employees for their trust over the years: we will continue to exceed expectations, always at the forefront of Smart O&M innovation!"
About Siveco China
Siveco China (www.sivecochina.com), founded in 2004, is a pioneer in the development of Smart Technologies for the Operation & Maintenance of infrastructures and industrial plants, with a focus on mobile solutions "for the worker of tomorrow".
Long before the terms "smart" and "4.0" were coined, Siveco has been helping clients optimize the lifecycle of their assets and ensure regulatory compliance using IT. Based on a long experience of "maintenance with Chinese characteristics", the company has developed a unique approach combining expert maintenance consulting and innovative solutions designed in its Shanghai-based R&D center.
Siveco China has over 850 customer sites all over Greater China and on the Belt & Road, including ABB, Baosteel Metal, Beijing Environment, Capital Water, Carrefour China, CEPSA, CNEEC, CNOOC, COSCO, Fushun Mining, Engie, Everbright, GE, New World Development, Saint-Gobain, Shell, Suez NWS, etc. The company boasts a growing export business, working alongside Asian EPC companies and with international clients in Southeast Asia, the Middle-East and Africa.
Siveco China has won numerous awards, most recently the prestigious Top Ten Enterprise for Asset Informatization Service by the China Association of Machinery Equipment Maintenance and Renovation (CAMER) and Best Industrial Software 2017 by Control Engineering China. Previous awards include Plant Engineering Product of the Year 2012, CHaINA Supply Chain Excellence Award 2013 and Engineers' Choice Awards by Plant360 in three categories in 2015.
Siveco is ISO 9001-certified by Bureau Veritas for its entire scope of business. The company is headquartered in Shanghai, where it also operates its R&D center, and has offices in Hong Kong. Siveco China is a subsidiary of Siveco Group, a European pioneer in computerized maintenance management systems (CMMS).
Siveco China publishes the monthly "Smart Operation & Maintenance – for the worker of tomorrow" email newsletter (newsletter.sivecochina.com), bilingual English and Chinese, available to subscribers and online.
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