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News Release from: Tornos Technologies
Edited by the Manufacturingtalk Editorial
Team on 27 February 2008
Lathe builders partner on Far East
markets
Under a partnership agreement, Tsugami will build Tornos 'entry-level' single-spindle machines and Tsugami will also distribute Tornos multi-spindle lathes in Japan and Asia.
CNC lathe builders Tornos and Tsugami have signed a framework partnership agreement, under the terms of which, contracts will be signed in the future in a number of areas such as research and development, procurement, production and distribution The two machine tool builders are of similar size in the machine tool sector
This article was originally published on Manufacturingtalk on 11 Jun 2001 at 8.00am (UK)
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The underlying logic of their agreement is that the two groups are complementary in terms of their product range and geographical markets, in which each of them holds a leadership position.
The first two such contracts are currently being drawn up.
The first will involve Tsugami producing 'entry-level' single-spindle lathes for which Tornos has supplied the specification.
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Tsugami will then distribute the machines through its own sales network.
Under the second contract, Tsugami will distribute Tornos multi-spindle machines in Japan and Asia.
Other agreements will be signed in future.
With this in mind, the board of directors of Tornos is setting up an 'ad hoc' committee, an approach also being followed by Tsugami.
Representatives of these two bodies will form the Alliance Committee.
Membership of that committee will also include representatives of the companies' respective boards acting as senior advisors of the Alliance for each firm, together with senior managers from the companies directly involved in projects set up under the contracts.
The senior advisors may also be invited to attend board meetings of the partner company.
To cement the links between the two groups and symbolise the importance of the alliance for the two partners, each company has decided to acquire 1 million shares in the other in the market.
Alliance benefits for Tornos - established in 1914, Tornos is based in Switzerland.
Its main products are automatic, single-spindle sliding headstock lathes and automatic multi-spindle lathes.
All these machines are positioned in the middle to upper end of the range.
Tornos has a strong presence in Europe, which accounts for almost 80% of its sales.
The first project under this alliance will give Tornos access to a complementary line of 'entry-level' single-spindle products.
The second will enhance penetration in Asia of its multi-spindle machines, reproducing the business model already working successfully in the USA under its alliance with Hydromat.
Alliance benefits for Tsugami - established in 1937, Tsugami is based in Japan and has a number of production sites in Asia.
Its main product lines are automatic lathes, machining centres, rolling machines and grinding machines.
In the sliding headstock automatic lathe market, in which Tornos operates, Tsugami products are positioned at 'entry level' and in the 'mid-range'.
Tsugami has a strong presence in Asia, which accounts for over 80% of its sales.
The first project under this alliance will enable Tsugami to leverage its production capacity more intensively.
The second will optimize the use of its distribution channels in Asia.
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