Asahi Diamond Industrial Co., a maker of diamond-tipped tools, said Tuesday it will set up two subsidiaries this month, one in the United States and one in China.
The U.S. unit, Asahi Diamond America Inc., will be formed in Ohio, it said. The wholly owned firm will engage in marketing of diamond-tipped tools.
The Chinese unit, Shanghai Xu Hui Diamond Industrial Co., will be established in Shanghai and owned 60 percent by Asahi Diamond and 40 percent by its Taiwan unit. It will deal with the production and marketing of diamond dice.
The company also said it will liquidate its loss-making U.S. unit, Permattach Diamond Tool Corp., in August, while reorganizing its operations in East Asia and Oceania.