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S undyne Corp and Nikkiso Co Ltd have reached an agreement that gives Sundyne 100% ownership of the Sundyne Nikkiso joint venture in Tokyo, Japan.
The former Sundyne Nikkiso joint venture will now be known as Sundyne Japan. Under the new agreement, Nikkiso will continue to represent Sundyne in Japan and manufacture Sundyne pumps and compressors under licence for specific customers.
"Sundyne has had a long and trusted relationship with Nikkiso. At this point in time, however, taking full control of Sundyne's distribution and manufacturing strategy will make it easier for us to further expand throughout Asia," said Phil Ruffner, president of Sundyne Corp.
Daryl Lamy, general manager of the former joint venture, will continue to lead Sundyne Japan, with responsibility for all sales activities in the Asia region. Hideo Otsuka has been appointed deputy general manager of Sundyne Japan, replacing Katsumi Kuramochi who has decided to return to Nikkiso.
"This change in ownership is an important milestone for Sundyne and its global distribution strategy. The new agreement keeps in place a long and important relationship with Nikkiso to bring valuable Sundyne products and services to the Japanese marketplace," added Ruffner.
Sundyne and Nikkiso formed the joint venture in 1975.
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