SMT & Inspection | June 04, 2008
Nordson acquires the remaining stake<br>in its joint venture in Korea
Nordson has acquired the remaining stake in its joint venture, Nordson Sang San Ltd. of Gwang-Ju City, Korea.
Nordson held a 49 percent stake in the company prior to acquiring the remaining interest from its joint venture partner. Revenue of the business and terms of the acquisition were not disclosed. The acquired operation is a distributor of Nordson's adhesive dispensing, industrial coating and automotive products as well as its EFD and Asymtek branded product lines. "We have had an outstanding business partner in Korea for nearly two decades," said Gregory P. Merk, Vice President, Pacific South Division. "Now, as the sole owner of this operation, Nordson is positioned to offer an even greater number of services and products to our customers. With the rapid growth we continue to experience in the region, the ability to provide our customers with local technical support is a key strategic advantage for us," said Merk. Merk added that the business will now operate under the name Nordson Korea and that Mr. Young-Bae Park will continue as its president.