Kyocera to Acquire SGS Tool
Effective May 2, Kyocera will acquire SGS Tool and rename it KYOCERA SGS Precision Tools, Inc.
Kyocera Corp. recently announced that it has completed a share purchase agreement regarding the U.S. solid tool manufacturing and sales company, SGS Tool Co. and its group companies. Effective May 2, Kyocera will acquire 100% ownership of SGS Tool, and will rename the company KYOCERA SGS Precision Tools, Inc. By incorporating SGS Tool, Kyocera plans to increase sales of cutting tool business in North America 2.5 times by the end of fiscal year ending March 31, 2019.
Kyocera is reportedly expanding its cutting tool business globally with its main lineup of indexable cutting tool products. SGS Tool is a solid tool manufacturing and sales company focused on developing its business mainly in the U.S. and UK for the automotive, aerospace, energy and medical industries. By incorporating SGS Tool into the Kyocera Group, Kyocera hopes to create a business structure capable of providing total solutions and strengthen its business globally as a valuable comprehensive cutting tool manufacturer.
The purchase will expand Kyocera’s lineup with solid tools and create a structure capable of providing total solutions. It will also add new manufacturing and sales sites that will further strengthen and expand Kyocera’s cutting tool business in North America.
For more information, visit http://global.kyocera.com.