Synova, Sugino to launch Japanese micromachining joint venture

Nov. 6, 2006 — Synova, the Lausanne, Switzerland, maker of water jet-guided laser technology, announced that it has signed a letter of intent to develop a joint venture with Sugino Machine Ltd. in Japan to bolster its presence and market share in the Japanese micromachining equipment market.

The letter outlines a 50/50 partnership between the two companies to form Sugino-Synova Ltd., and reflects Synova’s global expansion plans. The JV will complement Synova’s recent establishment of micromachining centers (MMCs) throughout the U.S., which aim to better serve the company’s current and prospective customers by efficiently and effectively providing localized application development and customer support.

Sugino-Synova Ltd. will provide manufacturing, development, sales and support services to Japanese customers. The JV will be located in Toyama, Japan in an industrial facility provided by Sugino, and is set to begin operations in January 2007 after closing on the agreement, which is slated for the end of this year. This announcement follows on the heels of MMC openings in the U.S.-Silicon Valley and Boston-that are set to open in January 2007.

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