Am-Kor Limited
From Wikislippy
Am-Kor Limited is an American and Korean based manufacturing business.
Contents |
History
EJR Manufacturing
EJR Manufacturing was an American manufacturing company founded in Edwin J. Richards in 1936.
In 1942, EJR Manufacturing began making supplies and equipment for World War II.
In 1952, EJR Manufacturing was interested in joining the North American car market. In 1957 a prototype was created called the RMC-1. However, in 1959 the company decided to delay production or the car. In 1972, RMC Motors shut down.
In 1974, Edwin J. Richards decided to pass on his company to his son and to retire. Kevin Richards became head of EJR Manufacturing in June 1976.
In 1989, Kevin Richards' son, Alex Richards, became vice-president of EJR Manufacturing.
Jayatsu Industrial
Jayatsu Industrial was a Korean manufacturer of heavy and industrial equipment. The company was founded in 1958 by C. Yoon.
In 1975, American David Smith purchased a majority share in Jayatsu Industrial. Smith believed that they could make more money if they expanded to North America. Smith demanded that they had a manufacturing plant in North America by the end of the decade. Yoon knew that they could not create it in time and left the company in 1978.
By 1982, Jayatsu had a minor presence in North America. By 1984, Smith was being convicted of tax charges and was found guilty in 1986.
In 1988 Jayatsu was bought by Han Lee. By 1991, Jayatsu was facing possible financial trouble.
Merger
In 1993 when a merger was formed between EJR Manufacturing and Jayatsu Industrial. A new company was created to represent both companies called Am-Kor Limited.
In 1996, Alex Richards became head of EJR Manufacturing after Kevin Richards retired in 1995.
In 1998, Alex Richards became the official head of Am-Kor Limited. Alex's brother, Adam Richards became CEO of EJR Manufacturing.
Am-Kor Motors
Richards Motor Company was formed in 1955 by EJR Manufacturing. By 1957 a prototype was created called the RMC-1. However, RMC Motors decided to delay production.
A redesigned version was completed in early 1964 called the RMC-2. However, with the introduction of the pony car, RMC decided to join the fight and canceled the RMC-2.
The RMC Hurricane was relieved in 1967 and the reception was positive. RMC planed to release the Hurricane by 1969. However, several factors delayed the process and the car was slightly redesigned. By 1971, the RMC Hurricane was ready for production. Production was planed for mid 1972. However, the muscle car market was beginning to slowing down and RMC started to worry about the future. The Hurricane became delayed again until 1973. Finally, due to market problems the RMC Hurricane was canceled. RMC was closed in 1975.
In 1997, EJR Manufacturing wanted to expand into the vehicle market again but no plans were made. In 1999, EJR Manufacturing registered the Richards Motor Company as a new company. Designing of the new vehicle began in 2004. EJR Manufacturing decided to bring back the RMC Hurricane. A prototype was completed in 2006. A full size version was completed in early 2008.
By mid 2008, gas prices were at record highs and RMC realized that it would be a poor time to put the Hurricane into production. The Hurricane was put on delay again and still is.
So International
In 1998, Am-Kor bought the remaining So Manufacturing. So Manufacturing is another Korean based manufacturing company. In 1999 the name was changed to So International. The most famous product was the ill fated So Car. In 2001. Am-Kor decided to bring back the So Car and turned it into a minor success.
