RE: DD etc. IMC Unveils Fancy New Factory Yes we do know what IMC is thinking and doing. IMC is the parent company of Taegutec.
South Korean cutting tool supplier Taegutec said it wants to expand its foreign sales quota to 75% by 2015 from the 65% recorded last year.
Speaking with journalists Monday at the opening of the company’s second plant in Daegu, South Korea, Jacob Harpaz, president and CEO of Taegutec parent IMC, declined to discuss the cost of the highly automated, 22,000 square metre expansion but said the facility will help the company meet rising interest in Taegutec products. “It’s an investment to double our production to supply our large demand.”
https://www.etmm-online.com/machining_accessories_cutting_tools/articles/359564/
IMC recently announced they are building a second tungsten tool making factory in South Korea. They desperately need a steady long term supply of tungsten to meet their growth goals as a company. Another thing is IMC is only giving WOF $35 million dollars for this deal which is a the equivalent of me or you reaching into our pocket and giving someone 2 pennies for a house or a car. There is no risk involved in this deal for IMC and they are getting a great deal for something they desperately need. If anything the WOF CEO needs to be the one playing hardball in order to get a better deal for WOF & the shareholders. At this point in the game knowing that IMC is probably sinking billions of dollars into this fancy new factory in south korea. Yet all WOF is getting is a measly $35 million dollars for the most important ingredient of all for this second new factory which is the longterm Sangdong tungsten supply. IMC is a major multi billion dollar company and $35 million dollars is pocket change for them. WOF has to pay back the other $35 million in tungsten or loan agreements.