NAGOYA -- Auto engine bearings maker Daido Metal is set to purchase fellow Japanese company Asahi Tec's aluminum casting segment in Thailand for more than 10 billion yen ($85 million), eyeing a chance to use its own broad sales network to strengthen the business.
Daido Metal will acquire all outstanding shares of ATA Casting Technology Japan, an Asahi Tec unit that runs the Thai business worth 8 billion yen a year through a subsidiary. Daido Metal will make an official decision Friday, with the deal expected to close in fiscal 2016.
