EDEN PRAIRIE, Minn., Jan. 23, 2018 /PRNewswire/ -- MTS Systems Corporation (NASDAQ: MTSC), a leading global supplier of high-performance test systems and sensors, today announced that MEDTEC Solutions Co., Ltd. will support MTS Vehicles, Structures and Materials market segments in Vietnam.
The appointment of this new Business Partner will accelerate MTS' growth strategies in the region. MTS expects significant investments in mechanical testing from Vietnamese industries in the near future, especially in the Automotive, Civil Structural and University sectors. The IMF (International Monetary Fund) confirms Vietnam's potential with a forecast of 6.8% GDP growth in 2018.
With sales offices in Ho Chi Minh City and Hanoi, MEDTEC Solutions Co., Ltd. serves the following industries in Vietnam: Automotive, Polymer & Petrol Chemicals, Metals, Pharmaceuticals, Medical Devices and Higher Education. These industries align with MTS' product and service portfolio and will benefit greatly from increased MTS representation in Vietnam.
"MTS expansion in Southeast Asia delivers stronger support to all our customers in the region," says Dr. Jeffrey Graves, MTS President and CEO. "Our investment in Vietnam in particular will provide faster response to match their predicted near-term growth and better test solutions to empower future growth."
About MTS Systems Corporation
MTS Systems Corporation's testing hardware, software and services solutions help customers accelerate and improve their design, development and manufacturing processes and are used for determining the mechanical behavior of materials, products and structures. MTS' high-performance sensors provide controls for a variety of applications measuring motion, pressure, position, force and sound. MTS had 3,500 employees as of September 30, 2017 and revenue of $788 million for the fiscal year ended September 30, 2017. Additional information on MTS can be found at: http://www.mts.com.
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SOURCE MTS Systems Corporation
Brian Ross, Sr. Vice President and Chief Financial Officer, 952.937.4000