Sumitomo-Kimura Foundry joint venture finalized for U.S. 3D printing
Sumitomo Corp. (Tokyo) has entered an agreement to invest in AFS Corporate Member Kimura Foundry America (KFA) and will hold a 35% interest in the Schaumburg, IL-based manufacturer of prototype casting using 3D printing technology.
Sumitomo Corp. has long been engaged in the overseas sales of castings made by KFA. Through its new investment, Sumitomo says it aims to generate synergy effects between the businesses, including Sumitomo’s auto parts manufacturing unit, while also expanding the prototype casting business across its customer networks in construction and agricultural machinery, industrial equipment, and others.
In addition to the U.S., the companies say they’ll pursue business expansion in Europe and Asia, hoping to support the development of related industries around the world.