Thresher Industries expands in Asia, says Midwest metalcasting site closer.Thresher Industries, Hanford, Calif., signed a memorandum of understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. with an undisclosed consortium of Korean companies to build an alloy making plant, and an executive at the company says the company has not given up on finding a site for a Midwestern metalcasting site. The company announced in May that it was considering locations for a new facility in Michigan, while at the same time opening a new office in Korea. With that connection developing quickly, the U.S.-based metalcasting facility has yet to be finalized. "The [Midwestern facility] is moving forward, based on customer commitments," said Tom Flessner, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Thresher. "As we see the customer ramp up Ramp Up To increase a company's operations in anticipation of increased demand. Notes: A company might 'ramp up' operations if they just signed a contract creating substantially more demand for their product. See also: Demand, Economies of Scale , we're moving forward with that facility." Flessner declined to name the customer, which he said is a transmission component manufacturer. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the Thresher chief, the company will be doing all of the metalcasting for the unnamed company in the near future. The joint venture established in Korea is still pending a contract, but Flessner said it would result in a new facility producing metal matrix composites. The materials will be shipped to Pacific Rim Pacific Rim, term used to describe the nations bordering the Pacific Ocean and the island countries situated in it. In the post–World War II era, the Pacific Rim has become an increasingly important and interconnected economic region. customers. Thresher currently provides conventional cast aluminum and reinforced metal matrix composite aluminum alloy components to customers from its California-based facilities. |
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