Morimatsu International

What Morimatsu International does

Morimatsu International Holdings Company Limited (02155.HK) is a Hong Kong-listed holding company that, through its subsidiaries, designs, manufactures, installs, and maintains core equipment, process systems, and digital-intelligent factory solutions for industrial clients worldwide. The company's operations trace back to 1990 with the founding of Shanghai Morimatsu Pressure Vessel Co., Ltd., and it currently operates through wholly-owned subsidiaries across China (Shanghai, Nantong/Jiangsu, Suzhou), Sweden, the United States, India, Japan, and Switzerland, serving customers in pharmaceuticals, biopharmaceuticals, chemicals, oil & gas refining, mining & metallurgy, data centers, medical aesthetics, and FMCG. Its product portfolio is organized into three layers: (1) core equipment, principally pressure vessels for chemical, biological, and polymerization reactions; (2) process systems including skidded equipment, process modules, and modular industrial plant solutions such as the 206-module, 24,000-ton Iraq Ar-Ratawi natural gas processing plant project executed for TotalEnergies; and (3) digital-intelligent factory solutions spanning digital design, manufacturing, delivery, and operations/maintenance, including the EAMS Enterprise Asset Management System (ISO55000/GMP-aligned), BioScada II bioprocess control software (GAMP5/21 CFR Part 11 compliant), CFD-based bioreactor design optimization, and IO-Link industrial communication technology.

Morimatsu monetizes primarily through project-based, quote-driven sales of engineered equipment and modular plant solutions to enterprise clients, supplemented by professional services revenue from digital operations & maintenance deployments such as the seven-module EAMS rollout at Three-Sang Guo Jian (三生国健). Following the 2025 acquisition of Swiss Bioengineering AG (BioE), the company also sells the Taberis (Xpert, Prime, Parasmart), Ondalis, and Bagento bioreactor product lines for life sciences applications. Pricing is not publicly disclosed; the company sells direct via field sales and supports customers through its global subsidiary network, industry exhibitions such as CPHI & PMEC, and technical seminars. Major end customers referenced include TotalEnergies and CPECC (oil & gas), Three-Sang Guo Jian (pharmaceutical), with the company's products exported to over 30 countries and Morimatsu Life Sciences active in over 40 countries/regions globally.

The company holds 30+ industrial permits and certifications including ASME U and U2 stamps, China Class I/II/III pressure vessel design and production licenses, high-tech enterprise certification, and ISO 55000 / GAMP5 compliance. Strategic moves include the 2019 Hong Kong IPO, the 2025 acquisition of Swiss BioE, the 2026 strategic cooperation agreement with MAIRE Group (Tecnimont) for international EPC project execution, the divestiture of Shanghai Morimatsu Pressure Vessel Co., Ltd. in June 2020, and the expansion of the Nantong production base (Phases 1 in 2011, Phase 3 in 2019). Leadership is primarily Japanese, including CEO Nishimatsu Ehara (29 years pressure vessel experience) and CFO Hirasawa Jingo (12 years finance experience), with the Chairman role held by Matsuhisa Kohki as Non-Executive Director.

Name

Morimatsu International

Legal name

森松國際控股有限公司 (Morimatsu International Holdings Company Limited)

Website

https://morimatsu-online.com

Company type

Public

Founded year

2019

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Morimatsu International (02155.HK) is a Hong Kong-listed global provider of core equipment, process systems, and digital-intelligent factory solutions for pharmaceutical, biopharmaceutical, chemical, oil & gas, and mining clients, operating across China, Sweden, the US, India, Japan, and Switzerland.

Ownership category

akta.pro rank

Product category

Industrial Process Equipment Manufacturing

NAICS

Industrial Machinery Manufacturing (33324), Industrial Machinery Manufacturing (3332), Other General Purpose Machinery Manufacturing (3339)

SIC

Special Industry Machinery, Nec (3559), Special Industry Machinery (No Metalworking Machinery) (3550), General Industrial Machinery & Equipment (3560)

akta.pro primary industry

Chemical Processing Equipment (Reactors, Mixers, Agitators) (IMAHAEAA)

akta.pro secondary industries

Industrial Drying & Evaporation Equipment (Dryers, Evaporators, Crystallizers) (IMAHAEAD), Chemical & Petrochemical Plant Construction (IMAFADAA)

Keywords

• Pressure vessel manufacturing
• Process system engineering
• Biopharmaceutical equipment
• Modular plant construction
• Industrial bioreactor systems

Headquarters

HQ city

Rugao

HQ country

China

HQ region

Asia

Offices8 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Design, Manufacturing, Installation and Operational Maintenance Services: Primary business focused on design, manufacturing, installation, and operational maintenance of core equipment for chemical, biological, and polymerization reactions, as well as process systems (process modules) and integrated modular industrial plant solutions.
2. Digital Operations & Maintenance Services: Digital operation and maintenance services including EAMS system deployment, providing full lifecycle digital management solutions for pharmaceutical and other industry clients.
3. Core Equipment and Bioreactor Product Sales: Sales of core equipment including bioreactors (Taberis, Bagento, Ondalis series) and process systems to pharmaceutical, biopharmaceutical, and other industry customers.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

Morimatsu International designs, manufactures, installs, and provides operational maintenance for core equipment (pressure vessels for chemical, biological, and polymerization reactions), process systems, and integrated modular industrial plant solutions. The company also delivers digital-intelligent factory solutions that span the full equipment lifecycle, including proprietary bioreactor systems, solid-dosage process equipment, and software platforms (EAMS, BioScada II) for pharmaceutical, biopharmaceutical, oil & gas, chemical, mining/metallurgy, FMCG, and data center customers worldwide.

Product overview

Morimatsu International is a global leader in core equipment, process systems, and digital/intelligent factory solutions. The company offers three core product lines: (1) Core Equipment including pressure vessels for chemical, biological, and polymerization reactions; (2) Process Systems including structural components, electrical control, piping, and fluid control; and (3) Digital/Intelligent Factory Solutions covering full lifecycle digital services. Through its subsidiary Swiss BioE (Bioengineering AG), the company acquired in 2025, it offers the Taberis series bioreactors (Parasmart, Prime I/A, Xpert I/A), Ondalis wave-type single-use bioreactor, and Bagento single-use bioreactor, all controlled by BioScada II software. The portfolio also includes EAMS (Enterprise Asset Management System) with seven core modules, solid dosage form equipment (fluidized bed, wet granulator), API process equipment (filtration/washing/drying, spray dryer), lyophilization production lines, and modular factory construction services for energy, materials, and industrial applications. The company serves pharmaceutical, biopharmaceutical, medical aesthetics, fast-moving consumer goods, data centers, and traditional energy sectors.

Differentiator

Problem solved

Functional benefit

Brands

• 森松生命科技 (Morimatsu Life Sciences): 製藥、生物製藥、醫美、快速消費品、數據中心等領域的核心設備、工藝系統和數智化整體工廠解決方案提供商
• 森松能源材料 (Morimatsu Energy Materials)
• 瑞士比歐 (Swiss BioE / Bioengineering AG)
• 森松法瑪度 (Pharmadule)

Products and services

• Core Equipment (Pressure Vessels) Engineered pressure vessels and reaction equipment for chemical, biological, and polymerization reactions; designed for pharmaceutical, oil & gas, chemical, and mining/metallurgy customers under ASME, PED, and China licenses.
• Process Systems Engineered process modules and integrated process system packages for industrial customers across pharmaceutical, chemical, oil & gas, and mining industries.
• Digital-Intelligent Factory Solutions End-to-end digital factory offering that combines equipment delivery, digital twin, predictive operations, and digital operations & maintenance services for industrial customers.
• Taberis Parasmart Bioreactor Bioreactor model within the Taberis series, designed for biopharmaceutical process applications with CFD-based design optimization.
• Taberis Prime I Bioreactor Stainless-steel bioreactor within the Taberis series for cell culture and microbial fermentation, used with BioScada II control and designed for biopharmaceutical manufacturers.
• Taberis Prime A Bioreactor Stainless-steel bioreactor variant within the Taberis series for cell culture and microbial fermentation in biopharmaceutical production, paired with BioScada II control.
• Taberis Xpert I Bioreactor Stainless-steel bioreactor variant within the Taberis Xpert line for advanced bioprocess applications in biopharmaceutical manufacturing.
• Taberis Xpert A Bioreactor Stainless-steel bioreactor variant within the Taberis Xpert line for advanced bioprocess applications in biopharmaceutical manufacturing.
• Ondalis Wave-Type Single-Use Bioreactor Wave-type single-use bioreactor for cell culture applications, targeting biopharmaceutical manufacturers seeking single-use flexibility.
• Bagento Single-Use Bioreactor Single-use bioreactor system for biopharmaceutical cell culture applications.
• BioScada II Process Control System SCADA-based process control software for bioprocess operations, compliant with GAMP5 and 21 CFR Part 11 for regulated pharmaceutical environments.
• EAMS Equipment Management System Equipment Asset Management System built on ISO55000 asset management standards, offering seven core functional modules for industrial customers to manage equipment lifecycle and operations.
• Multi-Functional Fluidized Bed Solid-dosage process equipment supporting fluidized bed operations for pharmaceutical and chemical customers.
• Wet Granulator Wet granulation equipment for solid-dosage pharmaceutical manufacturing processes.
• Multi-Functional Filtration, Washing, and Drying Equipment Combined filtration, washing, and drying equipment for pharmaceutical and chemical solid-dosage production.
• Spray Dryer Spray drying equipment for pharmaceutical, chemical, and food-grade manufacturing processes.
• Lyophilization Production Line Lyophilization (freeze-drying) production line for pharmaceutical injectable and biologic product manufacturing.
• Modular Industrial Plant Construction Integrated modular industrial plant construction service that delivers pre-engineered, pre-fabricated modules for accelerated on-site assembly across pharmaceutical, chemical, oil & gas, and mining customers.

Quantifiable outcome

• Completed one of Asia's largest integrated refinery projects in 2016
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature9 records

Partnerships

Five partnerships are on record, tiered core and flagship.

• Three-Sang Guo Jian (三生國健)coreStrategic or Co-development Partner · 8 July 2026Morimatsu and Three-Sang Guo Jian (三生國健) entered a strategic partnership for the deployment of Morimatsu's EAMS (Enterprise Asset Management System) at Three-Sang Guo Jian's Shanghai facility. The project covers 7 core modules including equipment records, maintenance management, preventive maintenance, metrology management, special equipment management, verification management, and equipment inspection, with phased implementation including CSV validation.
• TotalEnergiescoreStrategic or Co-development Partner · 30 June 2026TotalEnergies is a key client for Morimatsu's modular construction project at the Iraq Ar-Ratawi Natural Gas Processing Plant. Morimatsu manufactures PAU and PAR modules (206 modules, ~24,000 tons total) including structural steel, piping, and multi-discipline installation. TotalEnergies' '12 Golden Life Rules' HSE standards govern project execution.
• CPECC (China Petroleum Engineering Construction Co., Ltd.)coreStrategic or Co-development Partner · 1 January 2026CPECC collaborated with Morimatsu on the Iraq Ar-Ratawi Natural Gas Processing Plant project, where Morimatsu handles module manufacturing and execution. CPECC serves as the main engineering and construction contractor.
• MAIRE Group (including Tecnimont)flagshipStrategic or Co-development Partner · 1 January 2026MAIRE Group, a leading global engineering group listed on Milan Stock Exchange (MAIRE), signed a cooperation agreement with Morimatsu Energy Materials. The partnership covers EPC project execution, engineering equipment supply, modular construction, and subsequent cooperation directions. MAIRE operates in ~50 countries with over 10,800 employees in downstream energy, chemical, and fertilizer sectors. The agreement was signed by Mr. Franco Ghiringhelli (MAIRE Group Senior Vice President and Tecnimont Chairman) and Morimatsu management.
• BioE (Bioengineering AG)flagshipOEM/ Whitelabel/ Licensing Partner · 1 January 2025Bioengineering AG (BioE), a Swiss bioreactor company with over 50 years of experience, formally joined the Morimatsu Group in 2025. BioE specializes in bioreactor and fermentation system R&D, design, and manufacturing with customers worldwide. The acquisition brings a comprehensive product line including Taberis (Xpert, Prime, Parasmart), Ondalis, and Bagento bioreactors, and BioScada II control systems under the Morimatsu Life Sciences portfolio.

Scale indicators5 records

Recent moves18 records

Expansion highlights6 records

Regional players

• Truking Technology: China-based pharmaceutical process equipment and turnkey engineering provider, particularly in liquid preparation, sterilization, and aseptic processing. Regional peer to Morimatsu's pharmaceutical and biopharma equipment businesses, primarily serving Chinese and emerging-market customers.

Broad incumbents

• Cytiva (Danaher): Global biopharma equipment and services provider offering bioreactors, cell culture, and bioprocess automation. Competes with Morimatsu Life Sciences' bioreactor and BioScada II offerings and with Pharmadule Morimatsu's modular pharma plants.
• Sartorius AG: Global bioprocess equipment and single-use solutions leader, with bioreactor systems, filtration, and fluid management portfolios. Highly comparable to Morimatsu Life Sciences (BioE) in the bioreactor and bioprocess control space, though much larger and broader.
• Fluor Corporation: Global EPC firm with significant life sciences, chemicals, and energy exposure. Comparable to Morimatsu Energy Materials' role as an engineering equipment and modular construction supplier within large EPC projects (e.g., the Ar-Ratawi gas plant alongside CPECC).
• GEA Group: Major supplier of process equipment, separators, homogenizers, and complete process lines for food, dairy, pharma, and chemical industries. Comparable to Morimatsu's process systems and skidded modules across multiple downstream verticals.
• Alfa Laval: Global leader in heat transfer, separation, and fluid handling for chemical, pharma, and energy industries. Comparable to Morimatsu Energy Materials' core equipment and process modules for chemical, refining, and energy customers.

Direct peers

• Tofflon Science and Technology: China-based supplier of pharmaceutical equipment, including lyophilizers, sterilization, bioreactors, and process systems. Direct peer to Morimatsu's pharmaceutical equipment business with overlapping product portfolios in lyophilization, fluid bed, and API processing.
• Exyte Group (formerly M+W Group): Specialist in high-tech facility construction, including modular and turnkey biopharma, semiconductor, and data center plants. Directly comparable to Pharmadule Morimatsu's modular pharmaceutical plant business and overlaps with Morimatsu's data center segment.
• CRB Group: Engineering, procurement, and construction firm focused on life sciences and advanced technology facilities, including modular biopharma plant delivery. Directly comparable to Morimatsu/Pharmadule's modular plant solutions for life sciences clients.
• Eppendorf AG: Manufacturer of bioreactors, cell handling, and liquid handling systems for life sciences research and production. Comparable to Morimatsu Life Sciences' BioE benchtop bioreactor portfolio (Taberis Prime/Xpert) and single-use systems.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/morimatsugroup
• Facebookfacebook.com/MorimatsuGroup
• LinkedInlinkedin.com/company/morimatsugroup

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries16 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Morimatsu International