Globe Union Industrial Corporation announced an agreement in principle for the creation of a new joint venture with Thai-Kin Co., Ltd. This joint venture will eventually result in the formation of a new entity focused on the development and manufacturing of kitchen and bathroom faucets, based out of Chonburi, Thailand; the current home of Thai-Kin. Combining the vast experiences of Globe Union within the faucet industry, with the equally impressive background Thai-Kin shares in the bath accessories market, both companies are poised to create a new global leader in faucet production, while complementing their own independent and successful businesses.