Samsung Techwin America Is Changing Its Name to Hanwha Techwin America
The new name will become official on April 1 and follows the company’s purchase by the Hanwha Group in December 2014.
Samsung Techwin America will change its corporate namesake to Hanwha Techwin America effective April 1, the company announced today during a phone conference with industry trade publication editors. The company’s products will continue to be marketed under the Samsung brand.
The move comes more than one year after Samsung Techwin was acquired by Hanwha Corp., a South Korean-based business conglomerate. Samsung Techwin America made its security industry debut in the United States at ISC West in 2010 after consolidating products lines by Samsung Electronics and Samsung Techwin.
The company remains a co-owner of the Samsung brand, and aside from the renaming there are no other organizational changes being made, said Tom Cook, vice president, sales, Samsung Techwin America.
“Everything else remains the same. Our R&D, our manufacturing, our facilities, our sales and marketing structure – overseas and in the Americas – it is a name change only,” he said. “We are doing this by choice. This is the next move in incorporating ourselves underneath the Hanwha corporation.”
Cook said Hanwah is a $56 billion firm that is focused on the development of defense-related, business-to-business products. “They are looking at us as a major investment, and down the road looking at major acquisitions possibly to compliment what we do. To us this is extremely exciting because we now are a focus of our corporate entity.”
Announcing the name change precedes the Samsung Techwin STEP Partner Summit in Puerto Rico, which begins on Sunday, and ISC West in April. The company’s booth at ISC West will reflect the new namesake, which will be incorporated with its Samsung and WiseNet brands.
Cook gave no timeframe but said the company will in due course drop the Samsung branding altogether. “Eventually we want to make it our own brand. The Samsung brand does carry some weight in the consumer mentality when you talk to end users and consultants,” he said. “It will be our decision when we want to do that and when it is the right time.”
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