BIMobject wins strategic deal in Southeast Asia by forming a joint venture with Thailand's largest industrial conglomerate SCG/CPAC
News January 10, 2020
BIMobject today announces a strategic partnership with CPAC, a subsidiary to SCG, a cement and building materials manufacturing company valued USD 15.6 billion. The partnership is formed as a joint venture (JV), where BIMobject secures minimum USD 500,000 annually during the first five years of operation in license fees.
The cooperation is a part of BIMobject’s strategy and aims to establish the technology and platform in Asia. Together with CPAC we have seen that adoption of BIM is now accelerating and that BIMobject’s technology and platform is a potent solution to the needs of the industry. The growth is underpinned by the construction regulation in for example Singapore.
CPAC and BIMobject envisage that the joint venture will capture a market-leading position and drive strong growth by leveraging the BIMobject platform and its scalable technology for object creation.
The cooperation is a restart of the Asian business partner strategy. Showing strength and commitment, BIMobject will appoint CEO Carl Silbersky, CTO Ben O’Donnell and BIMobject founder Stefan Larsson as board members of the JV and Thai subsidiary.
The joint venture will be Bangkok-based and responsible for the leveraging of BIMobject technologies and to support BIM advancements for Thai building product manufacturers.
BIMobject grants a technology license and will own 49 percent of the joint venture, while SCG’s subsidiary, CPAC, will own 51 percent. Financially, BIMobject will receive annual license proceeds of minimum USD 500,000 during the joint venture’s first five years, and 35 percent of web service sales thereafter. BIMobject Thailand’s business operations are expected to commence in the second quarter of 2020.
• BIMobject enters a joint venture agreement with The Concrete Products and Aggregate Company Limited (or "CPAC"), a 99.99% owned subsidiary of SCG’s Cement and Building Materials Business.
• BIMobject will receive licensing proceeds of minimum USD 500,000 yearly during the first five years.
• CEO Carl Silbersky, CTO Ben O´Donnell and BIMobject founder Stefan Larsson will join the Board of the joint venture.
• SCG alone employs 37,200 people and manufactures more than 64,000 products.
For more information, please contact:
Carl Silbersky – CEO
Tel. +46 40 - 685 29 00