Release: August 28, 1997
Establishment of global network in Japan, the U.S., Europe and South East Asia
NGK Fine Molds Inc. (President: Kazuo Ikushima (Director of NGK Insulators, Ltd.), Head Office: Handa, Aichi, "NFM"), an affiliate of NGK Insulators, Ltd. (President: Masaharu Shibata, Head Office: Nagoya) signed the Technology Support Agreement and the Service Agreement with ASAHI SOMBOON SHIPPO MOULDS CO., LTD. (President: Yongyuth Kitaphanich, Head Office: Thailand, "ASSM") on August 8, 1997, in terms of etching processing for plastics injection molds ("Molds"). Upon these agreements, NFM grants ASSM an exclusive right to accept orders and to perform the etching services in Thailand using NFM's technology ("Technology Support Agreement"). NFM consigns ASSM to provide repair services for Molds for which NFM has accepted orders in Japan or are newly delivered to customers in Thailand ("Service Agreement"). NFM achieved to participate in the etching processing industry for Molds in Thailand in cooperation with ASSM.
NFM is No.1 sales company of etching processing for automotive Molds in Japan. The actual etching process has been conducted by SANKEI CHEM-TECH CO., LTD. (President: Mamoru Nagata, Head Office: Yokohama).
ASSM, a company of SOMBOON group , has engaged in manufacture, sales and repair of aluminum die casting molds and cast iron molds in Thailand. Asahi Tec Corporation (President: Hiroshi Tsukada, Head Office: Shizuoka), an affiliate of NGK has conducted a joint project in aluminum casting business with SOMBOON group since 1989.
NFM participated the etching processing industry in Thailand to meet the strong demand by local Japanese companies, such as Japanese automotive manufacturers. Because of this, the etching quality between Japan and Thailand can be equal and designs done in Japan can also be etched in Thailand, which contributes to the quality development of final products manufactured in Thailand. The etching processing upon these agreements will start in early September 1997.
NFM, on the other hand, renewed the Business Cooperation Agreement with MOLD-TECH DIVISION OF STANDEX INTERNATIONAL CO. (President: Martin Pallante, Head Office: New Hampshire, the U.S., "MT") in February 1997, pursuing stronger technical and sales cooperation. Since MT has their plants both in the U.S. and Europe, together with ASSM in Thailand, NFM has built global network for etching processing, covering four major areas, Japan, the U.S., Europe and South-East Asia.
|1. Name of company :||ASAHI SOMBOON SHIPPO MOULDS CO., LTD.|
|2. Location :||Amphur Bangbor, Samutprakarn, Thailand
(approx. 30km east of Bangkok)
|3. Capital :||40 million Baht (approx. ¥144 million, ¥3.6 / baht)|
|4. Shareholders :||Asahi Somboon Aluminum Co., Ltd. 70%
(President: Yongyuth Kitaphanich,Head Office: Samutprakarn, Thailand)
Sippo Moulds Company 30%
(President: Ryuji MatsuokaHead Office: Aichi, Japan)
|5. Nature of business :||Production, sales and repair of aluminum die, casting molds and cast iron molds|
|6. Employees :||approx. 30|