Daido Steel to merge magnet businesses
September 19, 2016
Daido Steel Co., Ltd. has announced that two of its consolidated subsidiaries, namely Daido Electronics Co., Ltd, and Intermetallics Japan Corp. are to be merged. The company stated in its mid-term management plan that it has ranked the high performance magnet business as an important growth segment. The merger will see Intermetallics Japan Corp absorbed into Daido Electronics Co., Ltd.
Daido established Daido Electronics in January 1990, expanding its manufacturing and marketing units at Ayutthaya in Thailand as well as Shenzhen and Suzhou in China. Intermetallics Japan was established as a joint venture in December 2011 with two other companies. The three companies dissolved the partnership in March 2015 and Daido acquired Intermetallics Japan as wholly owned subsidiary.
Daido Electronics product line-up will now include the Neodymium (Nd) bonded magnets, Nd hot formed magnets and Samarium-Iron-Nitrogen (SmFeN) bonded magnets originally produced and sold by Daido Electronics, along with Nd sintered magnets originally produced and sold by Intermetallics Japan.