This news release is intended for media purposes, and is current of the date of publication. Information is subject to change without notice.
KYOCERA to Acquire Power Tool Business from RYOBI
Acquisition will further diversify and expand product lineup
October 5, 2017Kyocera Corporation (President: Hideo Tanimoto) 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
Related News for Corporate / Management
- Resignation of Executive Officer
- Notice Relating to Revision of Consolidated Financial Forecasts for the Year Ending March 31, 2019
- Notice Relating to Settlement of Long-term Purchase Agreements with Hemlock
Related News for Industrial Cutting Tools