KYOCERA to Acquire Power Tool Business from RYOBI

05-Oct-2017 Intellasia | BusinessWire | 7:04 PM Print This Post

Acquisition will further diversify and expand product lineup

KYOTO, Japan–(BUSINESS WIRE)–Kyocera Corporation (NYSE:KYO)(TOKYO:6971) today announced that it has
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
Limited’s
(President: Akira Urakami) 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.

Acquisition Background and Objectives

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, woodworking
tools, as well as power tools for the construction industry. In
particular, Kyocera has recently strengthened its power tool business in
the U.S. 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.

 

Outline of Agreement

Target business   Manufacturing and sales operations of the power tool business owned
by Ryobi
Expected date of acquisition January 2018
Outline of share acquisition   Kyocera to acquire 80% of shares in a company to be established by
incorporation-type company split that will assume Ryobi’s power tool
business. Details of the company to be established have not yet been
determined.
 

For more information about Kyocera Cutting Tool Business, please
visit below

http://global.kyocera.com/prdct/tool/index.html

About
KYOCERA

Kyocera
Corporation
(NYSE:KYO/TOKYO:6971; http://global.kyocera.com/),
the parent and global headquarters of the Kyocera Group, was founded in
1959 as a producer of fine
ceramics
(also known as “advanced ceramics”). By combining these
engineered materials with metals and integrating them with other
technologies, Kyocera has become a leading supplier of cutting tools,
electronic devices, semiconductor packages, printers, copiers, mobile
phones, solar power generating systems and industrial components. During
the year ended March 31, 2017, the company’s consolidated net sales
totaled 1.42 trillion yen (approx. USD12.7 billion). Kyocera appears on
the “Top 100 Global Innovators” list by Clarivate Analytics and is
ranked #522 on Forbes magazine’s 2017 “Global 2000” list of the
world’s largest publicly traded companies.

Contacts

KYOCERA Corporation (Japan)
Kenichi Hara, +81-(0)75-604-3416
Corporate
Communications
webmaster.pressgl@kyocera.jp
Fax:
+81-(0)75-604-3516

 


Category: BusinessWire, PRAsia

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