June, 2015.06.12

Utensileria Schneider S.r.l. and YG-1 Co., Ltd. announce joint venture to manufacture indexable tools

GUSSAGO, Italy and INCHEON, Korea - Utensileria Schneider S.r.l. and YG-1 Co., Ltd. (KOSDAQ: 019210) today announced a joint venture to manufacture indexable tools.
The joint venture combines the global resources and expertise of Utensileria Schneider and YG-1. Utensileria Schneider and YG-1 will own 50% each one of the joint venture.
The joint venture will operate under the name Qingdao Schneider Co. Ltd. and will be based in Qingdao, China. The joint venture will capitalize on the strong reputation YG-1 has developed as a leading manufacturer of round tools and on Utensileria Schneider strength in indexable tools design and manufacturing.

About Utensileria Schneider
Utensileria Schneider S.r.l. is an indexable tools designer and manufacturer. With an export share of 98% of its sales Utensileria Schneider is providing major corporations worldwide.

About YG-1
YG-1 Co., Ltd. is Korea’s largest and the 5th cutting tool manufacturer in the world. YG-1 has been accumulating know-how for 20 years and recently devotes the energies for the enlargement of tools range manufacturing.
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