SHELBYVILLE, Ind. (Inside INdiana Business) — Japan-based Sumitomo Corp. has acquired a minority interest in Kimura Foundry America Inc., which operates a manufacturing facility in Shelbyville. Financial terms of the deal were not disclosed, however Sumitomo says it plans to work with Kimura’s parent company to expand the business in the U.S. and beyond.
KFA is a subsidiary of Kimura Foundry Co. Ltd., also based in Japan. The company uses 3D printing technology to manufacture prototype casting for a variety of industries, including automotive, agricultural, and gas and oil.
Sumitomo says its investment in KFA continues a longstanding partnership with Kimura Foundry, which has included the overseas sales of castings made by the company.
“Through investment in KFA, Sumitomo Corporation is aiming to generate synergy effects between the business and the Sumitomo Corporation Group’s business such as auto parts manufacturing, while making effective use of its overseas customer network to expand the prototype casting business across the fields of construction and agricultural machinery, industrial equipment, and others,” the company said in a news release.
Kimura Foundry will retain the remaining 65% interest in KFA. The company did not state whether any new jobs would come as a result of the investment.
Kimura Foundry broke ground on the 35,000-square-foot facility in Shelbyville in 2017. The facility opened nearly a year later.