Machine toolmakers--and competitors--Tornos and Tsugami have agreed to an alliance which would combine their strengths in certain areas.
Under the terms of the agreement, contracts will be signed in areas such as research and development, procurement, production and distribution.
The first two such contracts are being drawn up. The first will involve Japanese machine manufacturer Tsugami producing entry-level single-spindle machines for which Tornos has supplied the specification and which it will then distribute through its own sales network.
Under the second contract, Tsugami will distribute multispindle machines in Japan and Asia. Other agreements will be signed in future.
Both companies will have members on an alliance committee to help with the...