Kyocera Corporation has agreed to acquire the majority of shares of a company to be established from the split of Ryobi Limited’s power tool business. The acquisition is expected to complete 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, 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 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 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.
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