Tsugami

Tornos and Tsugami signed a framework collaboration agreement to cooperate in R&D, procurement, production and distribution of machine tools. Initial contracts include Tsugami producing entry-level single-spindle machines for Tornos and distributing multi-spindle machines in Japan and Asia.

Machine tool manufacturer Tsugami plans to double output capacity in India over the next several years by expanding its factory in Tamil Nadu and renting floors from a neighboring factory, raising monthly output to about 100 units from 40-50.

Tsugami's subsidiary Tsugami Precision Machinery (Zhejiang) will establish a new company and construct a factory in Maanshan, Anhui, China, with a total investment of approximately 200 million yuan (3.36 billion yen). The factory will have a casting capacity of 18,000 tons per year and assembly capacity of 1,200 units per year.

Japanese machinery maker Tsugami will invest about 2 billion yen ($17.1 million) in fiscal 2017 to increase production capacities in China and India, aiming to meet rising demand for sophisticated machine tools.