PSI Targets Asian Orders as Malaysian Shareholder Opens Markets

(...) PSI AG shareholder Harvinder Singh, who owns 16.6 percent of the German software maker, said he wants to help win orders in Asia, India and the Middle East as PSI seeks to lift sales by more than 50 percent in three years.

Harvinder gained the stake after selling his company, inControl Tech Sdn Bhd, to Berlin-based PSI in May. Both companies specialize in software control systems and automation for energy, infrastructure and industrial companies.

“The PSI footprint will grow very significantly in the so- called developing Asian markets as well as the Middle East,” Harvinder said in an interview in Berlin. “We understand the clients, we are in the territory, we have a multinational team and that helps to bridge that gap.”

PSI, whose clients include Vodafone Group Plc and E.ON AG, won 68 percent of its new orders in Germany last year, and Chief Executive Officer Harald Schrimpf wants his company to be among the three largest in growth markets including Russia, the Middle East and China. (…)

Power Control

PSI’s software is used to control power grids, steel production and car making, as well as in telecommunications and transport. Founded in 1969, PSI sold shares to the public 11 years ago. (...) Schrimpf said he’s targeting additional acquisitions in areas that service the heavy machinery industries. In 2008, PSI made two purchases, according to data compiled by Bloomberg. The company had sales of about 128 million euros last year and wants to push revenue to 200 million by 2012, it said in May. (…)