Magnetics Business & Technology - March/April 2020 - 4

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Essex and Furukawa Forge Joint Venture for Global Magnet
Wire Business
Volume 19, Issue 2

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Furukawa Electric Co., Ltd.
have reached agreement
on the framework of a joint
venture that will combine
nearly all their magnet wire
operations into a single
global powerhouse. A key
motivation is to create a single brand that can serve the
automotive industry's growing need for magnet wire to
electrify its power trains at
manufacturing plants spread
around the world.

Editor & Publisher
David Webster
Contributing Editor
Dr. Stan Trout
Director of Operations and
Support Services
Ross Webster
Director of Sales and Content
Scott Webster

The deal was jointly announced in the US by Brian Kim, shown at left, CEO of Superior EsVH[ZKLFKLVEDVHGLQ$WODQWDDQGLQ-DSDQE\.HL.RED\DVKLULJKWSUHVLGHQWRI)XUXNDZD
Electric which is based in Tokyo.

Design & Layout
Scott Webster

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Administration
Marsha Grillo

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transaction as a company split and investment in kind designed to meet a strong demand
for a global supply of magnet wire products of consistent quality and design, especially for
automotive manufacturers. Furukawa said it anticipates closing the transaction by April
2020.
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IVA Solutions (France and China) which manufactures wire enamels.

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#1535-1998) is a publication of Webcom
Communications Corp.
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but also as it marks the creation of a technological powerhouse in the magnet wire industry
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and knowledge to push the boundaries of innovation while remaining focused on delivering
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The new venture will have market leadership positions in North America, Europe, and Asia,
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advancements especially for electric vehicle markets, said Kim. The combined resources
amount to nearly 2,100 employees working at 17 locations in eight countries.
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4

Magnetics Business & Technology *

March/April 2020

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