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Kyro Corp. continues expansion into China

Post Time:Nov 12,2013Classify:Industry NewsView:45

Glaston Technologies, a glass machinery and equipment manufacturer of Finland-based Kyro Corp., entered into two joint ventures in China for tool manufacturing, according to a Jan. 24 company release. The move represents the company’s continued efforts to penetrate the Chinese markets—Glaston already operates a Tamglass machine manufacturing unit in Tianjin, China. Officials from Glaston company Z. Bavelloni of Italy signed a 70 percent ownership agreement with Chinese tool manufacturer NST to start two ventures, Bavelloni Tools and Sanhe AAA Tools, according to the release. “As we are only starting manufacture there, we felt it would be easier and faster to enter a new market through joint ventures,” says Kyro spokeswoman Emmi Watkins. “NST is already established, has the local know-how, the networks and subcontractor knowledge. We have something to give them in terms of product development.” While the company doesn’t have any plans for further expansion into the country, Watkins says Glaston’s growing presence in the country allows the company to tap into the quickly growing Chinese market. “It’s a vast, developing market that is very excited to keep up with the newest developments, such as quality and low-emissivity,” Watkins says. To read the full company release, click here.Share this article:

Source: http://www.glassmagazine.com/news-item/commercial/kyro-corp-continues-expansion-chinaAuthor:

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