Acquisition will further diversify and expand product line-up
Kyocera Corporation president, Hideo Tanimoto has announced that it concluded a basic agreement as of September 29 to acquire the majority of shares of a company to be established from the company split of Ryobi Ltd’s power tool business. The acquisition is expected to be completed in January 2018. Through the acquisition, Kyocera aims to promote diversification and further expansion of its cutting tool business.
Kyocera has continually been expanding sales in its cutting tool business on a global basis as one of the leading companies in the field, after having entered the market more than 40 years ago. Kyocera has been focusing its efforts on diversifying and expanding sales of products from its core of indexable tools to solid carbide tools and woodworking tools, as well as power tools for the construction industry.
In particular, Kyocera has recently strengthened its power tool business in the US and European markets through targeted acquisitions, such as the acquisition of the Unimerco Group in Europe (now KYOCERA UNIMERCO A/S) in 2011 and the acquisition of SENCO Holdings, Inc. in August of this year (now KYOCERA SENCO Industrial Tools, Inc.)
By acquiring the power tool business from Ryobi, which has a strong market position in Japan and Asia encompassing a wide range of products with highly advanced technologies, Kyocera aims to take advantage of synergies with its relevant group companies in order to expand sales globally.
For more information about the Kyocera Cutting Tool business, visit http://global.kyocera.com/prdct/tool/index.html
Headquartered in Kyoto, Japan, KYOCERA Corporation is one of the world’s leading manufacturers of fine ceramic components for the technology industry. The strategically important divisions in the KYOCERA Group, which is comprised of 231 subsidiaries, as of March 31, 2017, are information and communications technologies, products which increase quality of life, and environmentally friendly products. The technology group is also one of the oldest producers of solar energy systems worldwide, with more than 40 years of experience in the industry.
With a global workforce of over 70,000 employees, KYOCERA posted net sales of approximately €11.86 billion in the fiscal year 2016/2017. The products marketed by the company in Europe include printers, digital copying systems, microelectronic components, and fine ceramic products. The KYOCERA Group has two independent companies in the United Kingdom: KYOCERA Fineceramics Ltd and KYOCERA Document Solutions.
The company also takes an active interest in cultural affairs. The Kyoto Prize, a prominent international award, is presented each year by the Inamori Foundation, established by KYOCERA founder Dr. Kazuo Inamori, to individuals and groups worldwide who have contributed significantly to the scientific, cultural, and spiritual betterment of humankind (converted to approximately €400,000 per prize category).
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