News / Japan's Daido Metal to buy Thai business from Asahi Tec
Date: 2016-12-24
Japan's Daido Metal to buy Thai business from Asahi Tec
Engine parts producer sees possible synergies in sales
NAGOYA -- Auto engine bearings maker Daido Metal is set to purchase fellow Japanese company Asahi Tec's aluminum casting segment in Thailand for more than 10 billion yen ($85 million), eyeing a chance to use its own broad sales network to strengthen the business.
Daido Metal will acquire all outstanding shares of ATA Casting Technology Japan, an Asahi Tec unit that runs the Thai business worth 8 billion yen a year through a subsidiary. Daido Metal will make an official decision Friday, with the deal expected to close in fiscal 2016.
ATA Casting supplies such aluminum parts as cylinder head covers to buyers like Japanese automakers in Thailand but rings up hardly any sales in other regions or industries. Daido Metal has a wider network, selling to automakers in Japan, U.S. and Europe as well as builders of ships and industrial machinery. It sees a major opportunity to expand sales of cast-aluminum components via its network.
Daido Metal also bought engine parts maker Iino Holding for 10 billion yen just this month, hoping to amass advanced engine parts technologies.
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