Unisteel Technology, Takumi Kogyo Enter Joint Venture

SINGAPORE — Nov. 8, 2000 — Unisteel Technology and Takumi Kogyo will form a joint venture to offer cleanroom aqueous cleaning, electro-polishing and other services for the hard-disk drive, medical, and dental industries.

Unisteel plans to invest $1.4 in the project, called Takumi Unitech, with its Japanese strategic partner. Unisteel will take a 70 percent stake in the venture, while Takumi will take the remaining 30 percent.

“Setting up our R and D operations here enables us to constantly take stock of the pulse of potential customers, thereby facilitating new application development and establishment of win-win partnerships,” said Kazuhiro Watanabe, president of Takumi Kogyo. “We see potential in growth areas like the life science, optical coating and semiconductor industries where Singapore has attracted world-class MNCs to set up manufacturing hub operations.”

The venture will be based in Singapore with an initial paid-up capital of $2 million.

–Jeff VanPelt


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