Equivalent to 12.8% of sales… Turnkey delivery of an entire assembly line, not just single products Directly handling everything from process design to test runs… Payment made after a five-stage verification process
X-ray inspection equipment company Jarvis (CEO Kim Hyung-cheol) announced on the 4th that it had signed a supply contract for automated electrode cell equipment worth KRW 3,576.44 million with a U.S. energy equipment company. The contract amount is equivalent to 12.82% of last year’s consolidated sales of KRW 27,895.39 million. The contract period runs from November 3 this year to May 23 next year. This is the first time in the past three years that Jarvis has signed a similar contract with this company.
Unlike a single unit of equipment, this contract is for the supply of one assembly automation line. Jarvis will be responsible for everything from process design to inter-equipment linkage and verification of line operation. Design, manufacturing, assembly, and test runs will also be carried out in-house.
Payment will be made in five stages: order placement, final design review (FDR), factory acceptance test (FAT), site acceptance test (SAT), and final acceptance (FA). Each stage requires verification by the customer.
The company stated that it expects follow-up orders, as customers often replicate the specifications of existing lines when expanding facilities. Jarvis began operating its second plant in August, increasing production capacity by 1.5 times.
A Jarvis official said, “The accumulation of precision measurement and automatic control technologies has led to a contract covering the entire line,” adding, “The company will manage the schedule and quality without disruption during the contract period.”
Jarvis conducts a manufacturing-site automation equipment business alongside its X-ray inspection equipment business. Through this contract, it has secured a customer in the energy equipment sector.
Market research firm Mordor Intelligence forecast that the global industrial automation market will grow at a compound annual rate of 7.55%, from USD 221.6 billion last year to USD 343.1 billion in 2031. MarketsandMarkets projected that, based on a starting point of USD 275 billion for the same period, the market will expand to USD 435.2 billion by 2030, at a compound annual growth rate of 9.6%.
Choi Yong-seok
AI-translated with ChatGPT. Provided as is; original Korean text prevails.
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