Chiyoda Corp, the leading Japanese energy and LNG engineering company involved in projects worldwide, has announced that it will merge three group companies as part of a corporate overhaul and a re-organization of executives.
The company will merge Chiyoda Kosho Co., Chiyoda System Technologies and Chiyoda TechnoAce Co., to establish a company called Chiyoda X-ONE Engineering Corp.
Chiyoda is currently working on LNG engineering, procurement and construction projects in Qatar, the US and Nigeria.
The company is also executing the EPC phase of the North Field East LNG project, which is the expansion of four LNG Trains with capacity of 8 million metric tonnes per annum.
In the US, the main EPC focus of the company is the Golden Pass LNG project being developed by QatarEnergy and ExxonMobil.
Core business
The new “Chiyoda X-ONE Engineering Corp.” will be based at its Koyasu Office and Research Park in Yokohama as of 1 April 2023.
Chiyoda said that the name of the new company includes “Engineering” as its core business and “X-ONE” in reference to the combination of Transformation (X) by “One Team” .
Following the merger, Chiyoda Kosho Co. will operate as the company's “Energy, Environment & Maintenance Business Division”, Chiyoda System Technologies Corp. will function as its “Instrumentation & Electrical Solutions Business Division” and Chiyoda TechnoAce Co. Ltd will operate as its “Life Science Business Division”.
“The company is committed to optimizing the technological capabilities, experience and track record accumulated by the three organizations to progress as a sustainable leading integrated engineering contractor,’ said Chiyoda.
Chiyoda X-ONE Engineering Corp. will be under President Taku Ito, while a Chief Executive will be appointed to the new entity.
“Prior to the merger, Chiyoda will reorganize its plant operation and maintenance solution and digital transformation business organizational functions to launch a new ‘O&M Transformation Solution Business Department’ as of 1 January 2023,’ explained Chiyoda.
“Chiyoda will collaborate with the company, other Group companies and business partners in implementing its growth strategy in the new business portfolio innovations of life science, next-generation power systems, carbon neutrality and plant operation and maintenance solutions, as well as traditional energy sectors,” stated Chiyoda.
“While continuing to contribute to resolving society’s challenges, Chiyoda is proactively responding to changes in the business environment and aiming to strengthen as a consolidated group,” it added.
