IRTech to supply TPS factory automation equipment to IGE
IRTech, a company specializing in automation equipment for TPS (Thermo Plastic Spacer) factories, has started the new year on a good note with a $15 million export contract.
IRTech (CEO Seung-hyuk Jung), a subsidiary of TOBESOFT, announced on the 8th that it has signed an export contract with IGE, a U.S. glass processing equipment distribution company, to supply TPS automation equipment and is supplying the initial volume.
The contract is for the supply of TPS automation equipment worth USD 15 million (approx. KRW 20 billion) over the next five years through local distributors, with the first order worth USD 1.1 million received earlier this year, and will be supplied to Temp Glass, a glass manufacturer based in Chicago, USA.
The TPS factory automation equipment produced by IRTech is an automated line that produces automotive plate glass and architectural double glazing. It is the world's second successful development in this field of equipment and is currently exported to 15 countries around the world. The American partner, IGE, is a high-quality glass processing equipment supplier with more than 40 years of experience.
Previously, the company signed a $780,000 export contract with FDS in Mexico last year, marking the first Korean company to enter the Latin American market. The contract was finalized in July last year and is currently undergoing final reliability testing.
"With this U.S. export contract as a catalyst, we are negotiating two additional full-line contracts worth $1.3 million," said Jung Seung-hyuk, CEO of IRTech. "We will continue to do our best to expand our global sales network and increase sales by developing our technology." (End)