Tell us more about the new plant of YG-1 in India. What kind of products will be manufactured here?
This is just the beginning of a journey. We have just commissioned the first phase of our new plant. We are starting with the manufacturing of end mills, drills and taps. Going forward, we will be increasing the capacity of existing products and will also be adding high end products. Later, we will have our in-house coating facility too.
How do you look at the potential in India for your products? What are your future plans, in short-term & long-term?
We are positive about the Indian market and are expecting a major growth. We will be expanding our new facility in a total of three phases. Over time, we will be establishing a R&D centre in India to cater to the specific needs of our customers here.
How do you ensure workers' productivity and economies of scale as competitive advantages for YG-1 globally?
The success of our company is our people. YG-1 is one big family irrespective of nationality. It is because of our family that we are marching ahead.
Can you brief us on the emerging trends in cutting tools? How is YG-1 contributing to these trends?
The machining is now becoming increasingly advanced. Customers are bringing in more sophisticated machines, having higher speeds & accuracy, etc.
YG-1 has two R&D centres operating in South Korea. The Songdo R&D centre is developing new technologies with ‘creative thinking and innovation’. It focuses on expansion of conversion research through vibrant inter-department communication. The Chungju R&D centre is equipped with high-tech facilities, which focuses on internalising and upgrading YG-1’s key technologies while working on R&D and production.
How was the overall company performance globally and in India? How much does Indian subsidiary contribute to YG-1's global business, in terms of percentage?
YG-1 is amongst the top five companies globally in the end mill market. It is the largest in South Korea based on its 30 years of know-how. YG-1 is expanding its range of products and items. We are the number one end mills maker (in round tools) in the world with 30 million pieces a year being produced in 23 production facilities worldwide and being sold in more than 75 countries. We have more than 5,000 employees working globally across various functions of R&D, production, sales & marketing, supply chain, finance, human resources, etc, creating value for all the stakeholders.
Tell us about your participation in IMTEX 2017. Any product launches for the Indian market?
We will be showcasing the complete range of our products in IMTEX 2017. We are now creating foot-prints in the indexable inserts sector. We are targeting to equip as many as possible fields viz, milling, drilling, turning, threading as well as boring. Our range of inserts, viz,
turning, milling & drilling, will be available from January
We have recently introduced new products across categories and for specific industries. In end mills, we have TitanNox-Power for titanium machining and Only One for general industry. In hole-making, we have Dream Drill High- Feed for automobile and general engineering industries and Dream Drill Flat-bottom for specific applications across industries. In threading tools, we have Synchro Tap for automobile & general engineering industries and Prime Tap for aerospace & automobile industries. As we continue to march ahead, YG-1 has introduced e-catalogue & smart tool recommendation pages on its website www.yg1.kr, to support the customers. ☐