14:07 | 30.03.2016
KYOCERA to Acquire 100% Ownership of U.S.-Based Solid Tool Manufacturer
Kyocera Corporation (NYSE:KYO) (TOKYO:6971) today announced that it has
completed a share purchase agreement regarding the U.S.-based solid tool
manufacturing and sales company, SGS Tool Company (President: Thomas
Haag) and its group companies (herein “SGS Tool”). Effective May 2,
Kyocera will acquire 100% ownership of SGS Tool, and will rename the
company as KYOCERA SGS Precision Tools, Inc. By incorporating SGS Tool,
Kyocera plans to increase sales of cutting tool business in North
America by 2.5 times by fiscal year ending March 31, 2019.
Cutting tools are utilized for machining in various industrial fields
including automotive, aerospace, energy, general industrial machines and
medical related products — with two main categories of products:
indexable tools and solid tools. In this market, there is a high demand
for companies that can provide total solutions for products ranging from
roughing to finishing.
Currently Kyocera is expanding its cutting tool business globally with
its main lineup of indexable cutting tool products; while SGS Tool is a
solid tool manufacturing and sales company developing its business
mainly in the U.S. and U.K. which possesses strength in products for the
automotive, aerospace, energy and medical industries.
By incorporating SGS Tool into the Kyocera Group, Kyocera will create a
business structure capable of providing total solutions and strengthen
its business globally as a valuable comprehensive cutting tool
Main Objectives1. Providing valuable solutionsBy expanding its lineup with
solid tools and creating a structure capable of providing total
solutions, Kyocera will provide further added value solutions to
2. Strengthening business in North AmericaBy adding new
manufacturing and sales sites, Kyocera will further strengthen and
expand its cutting tool business in North America.
3. Development of products and technologies utilizing the knowledge
of both companiesThrough mutual utilization of the
sophisticated product geometry and latest coating technologies
originally developed by each company, Kyocera will enhance its
competitiveness and meet an even wider variety of needs in the market.
About SGS Tool
SGS Tool Company
Munroe Falls, Ohio, U.S.A.
Manufacturing and sales of solid tools
335 (as of February 29, 2016)
For more information, please visit:http://global.kyocera.com/news/2016/0303_tygi.htmlAbout
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,
industrial ceramics, solar power generating systems, mobile phones,
printers, copiers, electronic components and semiconductor packages.
During the year ended March 31, 2015, the company’s net sales totaled
1.53 trillion yen (approx. USD12.7 billion). Kyocera appears on the
latest listing of the “Top 100 Global Innovators” by Thomson Reuters,
and is ranked #552 on Forbes magazine’s 2015 “Global 2000”
listing of the world’s largest publicly traded companies.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160330005448/en/