On March 20, 2008, TSUDAKOMA Corp. (Ishikawa, Japan: Tsudakoma) and Toyota Industries Corporation (Aichi, Japan: TICO) have reached to an agreement about the business collaboration and foundation of new joint venture company for the weaving preparatory machinery. The details are as follows:
Scope of business collaboration
Development and manufacturing: Development and manufacturing of weaving preparatory machinery of TICO will be integrated in Tsudakoma. This will enable further enhancement of development capability, productivity, quality and cost competitiveness.
Foundation of joint venture company and launch of new "T-Tech" brand: Tsudakoma and TICO will jointly found a new company, and launch the new brand "T-Tech", which will take over the existing brands for weaving preparatory machinery of Tsudakoma and TICO. The role of new company will be management for the sale and service of "T-Tech" machines. "T-Tech" challenges the world’s top brand in weaving preparatory machinery business.
Customer relations: The new joint venture company will supply "T-Tech" brand weaving preparatory machinery to Tsudakoma and TICO. Tsudakoma and TICO will be sales channels to their respective customers as ever. Tsudakoma and TICO will continuously make efforts to respond the customer requirement quickly and adequately.
Profile of Joint Venture Company
|Company Name||T-Tech Japan Corp.|
|President||Tatsuo Takehana (Managing Director, TSUDAKOMA Corp.)|
|Location||Kanazawa-city, Ishikawa-prefecture, Japan|
|Date of Foundation||May 12, 2008 (plan)|
|Scope of Business||Management of Sales and Service of Weaving Preparatory Machinery
(Sizer, Warper, Beamer and Auxiliary Devices for Spun, Filament and Glass yarns)
- The Joint Venture Company will be founded in May 2008, and start delivery from June 2008.
- Air and water jet weaving machine business will be continued by Tsudakoma and TICO individually without change. "T-Tech" will not be involved in weaving machine business.
- For any questions or further details, please contact to respective sales person.