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.