Sundyne Corp. Restructures Joint Venture Agreement With Nikkiso Co. Ltd.
ARVADA, Colo., May 4 -- Sundyne Corp. and Nikkiso Co. Ltd. have agreed to restructure their long-standing joint venture to market and service pumps and compressors in the Asia Pacific region. Sundyne is an industrial business of Hamilton Sundstrand, a subsidiary of United Technologies Corp. (NYSE:UTX).
The joint venture company will now be named Sundyne Nikkiso. The restructured joint venture company replaces the previous 34-year-old Nikkiso-Sundstrand joint venture. Sundyne Nikkiso will continue to be headquartered in Tokyo, Japan, with other offices in Asia. It will now have exclusive sales and service management responsibility in the Asia Pacific region for Sundyne and Sunflo pump and compressor products manufactured by Sundyne and Nikkiso. Nikkiso will continue to market and sell Sundyne and Sunflo products inside Japan.
"The Sundyne Nikkiso joint venture will expand our global reach to make it easier for customers in the hydrocarbon and chemical processing industries to purchase and maintain Sundyne branded pumps and compressors," said Phil Ruffner, president of Sundyne Corp.
Sundyne's Daryl Lamy will assume responsibility for day-to-day management of the company. Lamy was previously the service and sales excellence manager for Sundyne with sales responsibilities in the Americas and Asia Pacific.
"We are excited to expand our Sundyne Nikkiso sales and service coverage to support our valued customers in the Asia Pacific region," said Lamy.
Sundyne will continue to distribute magnetic drive sealless pumps with the brand names Ansimag and HMD/Caster by the current Asia Pacific sales channels. The Maso/Sine sanitary pump brand will also continue to be distributed by normal sales channels. These products will not be affected by the Sundyne Nikkiso joint venture.
Based in Arvada, Colo., Sundyne also has manufacturing facilities in England, France and Germany. Nikkiso is headquartered in Tokyo and manufactures industrial pumps and other products in Japan.
Sundyne manufactures high-speed centrifugal pumps and compressors in accordance with American Petroleum Institute (API) standards. Sundyne also builds and markets process pumps, sanitary pumps, and sealless magnetic drive pumps that fill a wide range of purposes for hydrocarbon, chemical, pharmaceutical, bio-ethanol, food and beverage processing industries.
Additional information can be found at www.sundyne.com.
With 2006 revenues of $5 billion, Hamilton Sundstrand employs approximately 17,500 people worldwide and is headquartered in Windsor Locks, Conn. Among the world's largest suppliers of technologically advanced aerospace and industrial products, the company designs, manufactures and services aerospace systems and provides integrated system solutions for commercial, regional, corporate and military aircraft. It also is a major supplier for international space programs.
United Technologies Corp., based in Hartford, Conn., is a diversified company providing high technology products and services to the building and aerospace industries worldwide.
Source: Sundyne Corp.
CONTACT: Dan Coulom, +1-860-654-3469, for Sundyne Corp.
Web site: www.sundyne.com
