Kyocera to acquire Ryobi power tool business
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 be completed in January 2018. Through the acquisition, Kyocera aims to promote diversification and further expansion of its cutting tool business.
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.
Kyocera recently strengthened its power tool business in the U.S. and European markets through targeted acquisitions such as 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 expand sales globally,".according to a company press release.
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