OMB, the Italian manufacturer of valves for the oil and gas industry, announced plans to operate a new manufacturing facility in the Republic of Korea, which will be located in Gimpo, Seoul, region. The new company will be called OMK. Construction is scheduled to begin in early January 2015, and the facility is expected to be fully functional by the end of May 2015.
"Our plan to create a new valve manufacturing facility in Korea represents our commitment to further the growth of OMB business and better support our customers in the region", said Simone Brevi, managing director, OMB Valve.
Brevi continued, "In 2015 we have committed to investments of nearly USD 15M in new equipment and facility upgrades in all our facilities worldwide. The new facility in Korea is a major step of our strategy: with this investment we will be uniquely positioned to serve our customers with fast delivery, exceptional integrity, and the highest quality valves available in the industry." OMB will invest up to USD 3M to set up the Gimpo facility, which will include modification and assembly equipment including cryogenic and high pressure gas testing facilities.