Toshiba Machine Co., Tokyo, has extracted itself from the troubled Toshiba Group, and is expanding its lineup of injection molding machinery.
The company is launching the all-electric EC280SXII, featuring a clamping force of 2,744 kN (280 metric tons), and the EC350SXII, featuring a clamping force of 3,430 kN (350 metric tons). They will both be made in China and target a specific application: precision molding of automobile optical parts.
“The EC-SXII series features a wide of array of packages for optical parts such as automobile LED headlight lenses, in-car lighting and displays, and more, for contributing to higher productivity and more stable precision molding,” said Masafumi Ito of the Regional Operating Headquarters (East Asia).
Last month, Toshiba Machine Co. bought back a controlling amount of stock owned by Toshiba Corp. “As a result, they are no longer our top shareholder and we no longer belong to the Toshiba Group,” said Toshiba Machine Chairman and CEO Yukio Iimura at the company’s North American headquarters in Elk Grove Village, Illinois.
Toshiba Machine took the action due to customer concerns about the Toshiba Group’s financial stability in the wake of significant losses in the company’s nuclear power business operated by Westinghouse.
According to Iimura, the transition for Toshiba Machine has been seamless, with no impact to its operations, customers, shareholders, employees or business partners.
Westinghouse field for bankruptcy March 24 because of billions of dollars of cost overruns at four nuclear reactors under construction in the U.S. Southeast. Toshiba shares lost half their value since the nuclear problems became public late last year. The problems also began to affect Toshiba Machine, although it was only 21 percent owned by Toshiba Group.
Toshiba Machine was established in 1938 as a heavy machine tool manufacturer, and has evolved into a diverse business comprised of approximately 48 regional companies and offices supplying global markets with injection molding machines, machine tools, die-casting machines, extruders, robotics and high-precision machines. The company says it has an installation base of more than 60,000 injection molding machines worldwide, owns all of the buildings in which it operates, and employs more than 3300 worldwide.