Tokyo, June 27, 2013 -- (ACN Newswire) -- Furuya Metal Co., Ltd. announced that it will establish the wholly-owned subsidiary Furuya Metal Americas Incorporated in Manchester, New Hampshire for selling the company's products in the United States and will commence operation from July 1, 2013.
Furuya Metal Americas will provide research and development support and sales using precious metal products centered on the platinum group metals(1) to universities and companies conducting research and development of advanced technologies in the United States. Because activities focused on local customers become possible, the company will be able to strengthen relation with existing customers for primary products, such as the iridium crucible for oxide single crystal growth, the thermocouple (high-temperature thermometer) used in temperature control when manufacturing semiconductors, and the sputtering target material used in the manufacture of next-generation semiconductors. Furthermore, the company will develop new customers by providing total solutions using Furuya Metal products for advanced technologies where precious metals are expected to become useful in the future, such as basic research and development materials in aerospace and medicine, the iridium alloy spark plugs used in aviation and new energy, and gas-to-liquid(2) catalysts. The company will be established with USD 600,000 in capital (approx. 60 million yen), making it Furuya Metal's second overseas sales subsidiary following South Korea.
Until now, employees of the Furuya Metal head office have conducted research and development support and sales to customers in the medical, semiconductor and hard disk fields in the United States. The establishment of Furuya Metal Americas will enable significant reductions in delayed responses due to long-distance travel and time differences. As a result, this will make it possible to provide more cohesive development support to existing customers, and also expand sales channels in new areas such as aerospace, aviation and new energy.
Manchester is located approximately 50 miles (80 kilometers) north of Boston, Massachusetts. Boston is home to many universities and companies developing advanced technology in a variety of fields such as universities conducting basic aerospace research, companies conducting basic medical research, and companies related to aviation, energy and medical equipment. By cohesively providing speedy development support for the advanced technology development needs of customers throughout the United States centered on Boston, Furuya Metal Americas will be able to expand the revenue base in a wide range of industries without relying solely on the electronics industry that has been the center of transactions in the past. By establishing a local sales subsidiary, the Company aims to increase US sales from the USD 5 million (approx. 500 million yen) expected in fiscal year ending June 2013 to USD 25 million (approx. 2.5 billion yen) in fiscal 2015.
Furuya Metal will monitor technology trends in the United States and work to expand business in the United States with an eye to establish a branch office on the west coast in the future.
For details of this release, please see: http://www.acnnewswire.com/clientreports/598/0627.pdf
(1) Platinum group metals: A group containing six types of metal: platinum (Pt), palladium (Pd), rhodium (Rh), ruthenium (Ru), iridium (Ir), osmium (Os).
(2) Gas-to-liquid: Technology and products for manufacturing liquid fuel using natural gas as a material. Manufacturing is carried out using precious metal catalysts.
Overview of Furuya Metal Americas Incorporated
Company name: Furuya Metal Americas Incorporated
Representative: Takuya Nakamura, President and CEO
Address: Waumbec Mill, Suite 4012, 250 Commercial Street, Manchester, New Hampshire 03101, U.S.A.
Established: April 1, 2013
Capital: USD 600,000 (approx. 60 million yen)
Employees: 5 (including 4 full-time)
Areas of business: Sales of Furuya Metal products, and research and development support in the United States
E-Mail: [email protected]
End of accounting year: June 30
Overview of Furuya Metal Co., Ltd.
Furuya Metal manufactures industrial-use precious metal products utilizing precious metals with high scarcity value included among platinum group metals (PGM) such as platinum (Pt), iridium (Ir) and ruthenium (Ru). Due to the extreme difficulty in processing these precious metals, the number of industrial-use precious metal manufacturers specializing in PGM is limited even on a worldwide level. Industrial-use precious metals centered on PGM, could be considered to be materials with a vital role in supporting advancements in the fields of electronics, optical glass, clean energy, environment and medicine because of their excellent characteristics such as heat resistance, chemical stability and good electrical conductivity.
The Company specializes in PGM with particularly excellent properties among precious metals, and manufactures and sells industrial-use precious metal products such as crucibles (heat-resistant containers), thin film materials and thermocouples (thermometers).
Headquarters: MSB-21 Minami Otsuka Bldg., 2-37-5 Minami Otsuka, Toshima-ku, Tokyo
Representative: Takahito Furuya, President
Founded: March 1951
Incorporated: August 22, 1968
Capital: 5,445 million yen
Listed exchange: JASDAQ Standard (Securities code: 7826)
Employees: 274 (as of June 30, 2012)
Sales: 27,986 million yen (as of June 30, 2012)
Areas of business: Manufacture and sales of industrial-use precious metal products such as iridium and platinum, and thermosensors. Sales of electronic materials and semiconductor-related products. Manufacture and sales of thin film components.
Furuya Metal Americas
E-mail: [email protected]