In the first few months of 2017, Alliance experts did a successful agent search in Thailand for Verantis, a company specialised in building exhaust gas cleaning installations.
Situation and project definition
Verantis (www.verantis.com) provides a complete line of technologies for the treatment of gaseous, liquid and solid wastes. The company is headquartered in the USA and has subsidiaries in Singapore and Shanghai. In total the company employs around 60 people, of which around 15 in Singapore.
Verantis wanted to use it’s expertise to increase the number of projects in the Southeast Asia region. Therefore sales and account management in the region needed to be enforced. Instead of building its own network, Verantis has decided to apply agents in the region.
The agent Verantis was looking for should be a company providing complementing products or services. The company should preferably be based in Bangkok or near Rayong or other (petro)chemical or manufacturing hotspots in Thailand. This was the starting point for the assignment that Alliance experts took upon.
Alliance experts started with drafting a partnering profile detailing the information above and providing an outline for the contractual relationship between Verantis and its Thai agent.
With that profile in hand we first made a long-list of over 25 companies in Thailand. The next step was to approach these companies, who did not all have an extensive website and often needed to be approached in person with a visit. This resulted in a short-list of three companies, and our local specialist in Thailand accompanies the business development director from Singapore in his visits to these Thai companies.
There was a good rapport with one of the companies that we had proposed, and further talks and email contacts have resulted in a collaboration agreement between Verantis and the Thai company Technology Engineering & Consulting (www.tec-thai.com)