# Litz Hitech and TOS VARNSDORF form joint venture for horizontal boring mills

Taiwan's Litz Hitech and Czech TOS VARNSDORF formed a joint venture, TOS-Litz, with EUR 5 million investment, to produce three models of horizontal boring mills at Litz's third plant in Shengang, Taichung. Initial annual capacity is 24 units, targeting 120 units. The plant opening ceremony is scheduled for January 4, 2017.

- Type: Partnership
- Announced: 2016-12-22
- Where: Shengang, Taichung, Taiwan, TWN
- Value: $5.25M (5.00M EUR)
- Status: announced
- Capacity: 24 units per year initially, targeting 120 units per year
- Products: horizontal boring mills
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Litz Hitech](https://endata.com/companies/16540.md) (partner)
- [TOS VARNSDORF](https://endata.com/companies/16541.md) (partner)

## Sources

- [chinatimes.com](https://www.chinatimes.com/newspapers/20161223000243-260210), 2016-12-22: "台灣麗馳科技昨宣布，將與捷克百年歷史工具機大廠－拓斯（TOS VARNSDORF）合資500萬歐元設立拓斯－麗馳公司，初期將導入3款新型臥式搪銑床在台灣生產。"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.