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Daido Metal to acquire Asahi Tec’s aluminium casting business in Thailand
Edited by : Heena Iqbal
1 min read
<p>Daido Metal, an auto engine bearing manufacturer is prepared to acquire Thai business from Asahi Tec’s aluminium casting segment worth 10 billion yen ($85 million), hoping to support the company by using its own sales network.</p>
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<p>After the acquisition, the company will purchase shares of ATA Casting Technology Japan, an Asahi Tec unit for 8 billion yen over subsidiary. The company will announce its official decision on Friday through the agreement likely to wind up in fiscal 2016.</p>
<p>Japanese automakers in Thailand gets aluminium parts such as cylinders head covers from ATA casting, on the other hand there is barely any sales records registered in other parts or industries.</p>
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<p>Through the company’s wider sales network in Japan, U.S and Europe, and builders of ships and industrial machinery, there is a chance to increase sales of cast-aluminium component.</p>
<p>This month, Daido Metal purchased Iino Holding, engine parts maker for 10 billion yen with the expectation of accumulating innovative engine parts technologies.</p>
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