Sunbo Corp., a leading seller of molds from Taiwan, has merged with its Asian engineering partner and changed its name to Lightwave Corp.
The merger, completed June 8, allows the company to offer both mold production and engineering services from one company to its overseas customers, said Sunbo co-owner Tim Herr. Sunbo markets its molds to U.S. customers from an office in Bellevue, Wash.
As part of the deal, Sunbo and tool engineering firm Lightwave, both based in Taipei, Taiwan, swapped stock to create a 50-50 partnership between management of the two companies.
The merged company will work on a partnership with several other mold-part producers at a manufacturing facility in Shanghai, China. That 4-year-old facility makes molds and molded parts for overseas and Chinese customers.
The new firm will record about $45 million in sales this year, with about a third of it coming from Sunbo's operations, Herr said.
Sunbo will continue in its primary role to market the services of 10 Taiwanese tool shops to foreign markets, Herr said. The company claims it can deliver molds 20-30 percent faster than U.S. toolmakers can.
Besides adding in-house engineering service, Lightwave has knowledge of Taiwanese culture and language that will help the company produce molds efficiently and quickly, he said.
``The name changes and the message changes,'' Herr said. ``We can be more efficient as one company and continue to invest together in our growth. Right now, we're quite focused on the Chinese market and building quality molds for our U.S. customers.''