# NGK Spark Plug and IMC to form cutting tools joint venture

NGK SPARK PLUG CO., LTD. signed an MOU with IMC International Metalworking Companies B.V. to form a joint venture for their cutting tools business. IMC will hold 51% and NGK 49% of NTK CUTTING TOOLS Co., LTD.

- Type: Acquisition
- Announced: 2022-07-29
- Where: Japan
- Status: announced
- Products: cutting tools, ceramic tools
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [NGK Spark Plug](https://endata.com/companies/25198.md)
- [NTK Cutting Tools](https://endata.com/companies/15014.md) (target)
- [IMC International Metalworking Companies](https://endata.com/companies/17524.md) (partner)

## Sources

- [niterragroup.com](https://www.niterragroup.com/english/news/detail/002694.html), 2022-07-29: "We are discussing to transfer our cutting tools business and assets in NTK to our consolidated subsidiary NTK CUTTING TOOLS Co., LTD and thereafter reorganize the subsidiary's capital structure so that IMC has equity interest 51% and NTK has 49% respectively."

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