March
26, 2002
Technical
Agreement on Hydraulic Molding Machines
to Wuxi Grand Tech Machinery Group of China
Ube Machinery concluded a technical
licensing agreement for hydraulic injection
molding machines with Wuxi Grand Tech Machinery Group of China
at a signing ceremony held in Wuxi on March
21.
The agreement will make it
possible for Wuxi Grand Tech Machinery Group to manufacture
and sell hydraulic injection presses, and
together we plan to release a range of
machines with clamping forces from 350 to
3500 tons to the Chinese market. Ube
Machinery's injection molding machines
command a major share of the market,
especially in large-size models, and this
cooperative effort with Wuxi Grand Tech Machinery Group is
expected to boost our sales competitiveness
in China.
Wuxi Grand Tech Machinery Group is one of the largest
manufacturers of injection machines in China,
with sales not only throughout China, but
also export sales to the Middle East and
Eastern Europe. For presses of over 1,000
tons capacity, it is the largest manufacturer
in China. Considerable demand growth in
large-size presses is expected in China,
primarily in the home appliance and
automotive industries, and competition is
intensifying there between Chinese and
foreign manufacturers. Through this tie-up
with Ube Machinery, Wuxi Machinery will be
able to offer even larger presses and
improved product quality, which it believes
will result in an increase of about 200
installations annually.
The agreement covers a 10-year period,
during which time the machines will be sold
under the "Wuxi-Ube" brand. Sales
will start with China, but export sales to
Southeast Asia and other nations will also
begin with a year or two. Ube Machinery has
also entered into a sales agreement for
mainland China, with Wuxi Grand Tech Machinery Group providing
the sales network for all-electric injection
molding machines and custom-order machinery
manufactured by Ube Machinery.
In April 2002 our Ube Machinery
(Shanghai), Ltd. wholly-owned subsidiary
began manufacture of small-size diecast
machines, and plans are being made to begin
manufacture of other models locally as well.
This tie-up with a local manufacturer means
that injection molding machine manufacture
and sale will be integrated with local needs,
ensuring us of an early win in the expanding
China market.
For information, contact:
Ube Machinery Corporation,
Ltd.
1980 Okinoyama, Kogushi, Ube, Yamaguchi
755-8633, Japan
Attn : Norihisa Okada, manager, Injection
Molding Machine Sales Group
Phone : +81-836-22-6276
Facsimile : +81-836-22-6279
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