Tokyo-based Ono Sangyo Co. Ltd. has purchased a 15.7 stake in Fischer Tech Ltd., a Singapore-based company that molds and decorates products for consumer, health-care, automotive and computer markets.
Fischer Tech sold about 42.9 million shares to Ono Sangyo for 20 cents a share.
Ono Sangyo invented the Rapid Heat Cycle Molding process, which uses elevated mold temperatures during the injection cycle, followed by rapid cooling. That enables production of thin, highly rigid plastic products with no weld line and a mirrorlike surface gloss.
Fischer Tech officials said the deal will help improve its molding technology for cosmetic parts.
The companies will work together to win new customers and develop new technologies.
Fischer Tech will raise $8.54 million through the placement, after deducting expenses.
Tel. 65-6542-2338, fax 65-6542-3088.