KYOCERA Unimerco to Acquire Lithuanian Woodworking Tool Manufacturer, Making It a Wholly Owned Subsidiary
April 28 2015 - 08:07AM
Business Wire
Acquisition aimed at strengthening woodworking
tool business in Europe
The Kyocera Group’s (President: Goro Yamaguchi) subsidiary in
charge of manufacturing and sales of industrial cutting tools,
Kyocera Unimerco A/S (President: Senri Nagashima; herein “KUA”)
announced today that it has acquired all shares of Garsdalo
Medienos Technologija UAB (President: Ole Garsdal, headquarters:
Vilnius, Republic of Lithuania, herein “GMT”), a manufacturer and
distributor of woodworking tools. The share transfer agreement was
concluded on April 27, making GMT a wholly owned subsidiary of KUA.
Through this acquisition, KUA aims to strengthen its woodworking
tool business currently centered in Northern Europe, and nearly
double its sales in this business segment by FY2020 (April 2019 to
March 2020).
Background
In Central and Eastern Europe, the woodworking market for
processing building material and furniture is expanding, backed by
low-cost and abundant labor, resulting in an increase in demand for
processing tools. Based on this growth, KUA had been considering
expanding its business into these markets.
In addition to its core business of manufacturing and supplying
cutting tools for the automotive industry, KUA also markets
custom-made tools in the field of woodworking based on the
company’s strong technological capabilities, and has a proven
record of offering woodworking tools for processing items such as
window frames and kitchen furniture. Meanwhile, GMT, which has
steadily expanded its business since foundation in 1998, possesses
strengths in processing tools for general furniture utilized by
customers including major furniture manufacturers.
Since GMT became a distributor of KUA (then Unimerco A/S) in
1998, the companies have developed a relationship of trust through
sales of KUA’s cutting tools in Central and Eastern Europe. By
welcoming GMT into its group, KUA aims to create synergies by
expanding sales channels in Central and Eastern Europe and
strengthening its product lineup.
Motive
1. Expand sales channels in Central and Eastern
Europe
Develop new customers and strengthen sales by
mutually utilizing KUA’s sales channels in Northern Europe as well
as GMT’s sales channels in Central and Eastern Europe.
2. Strengthen product lineup
Include GMT’s tools for general furniture and
KUA’s custom-made tools for processing window frames and kitchen
furniture in the product lineup, thus reinforcing proposals for
customers.
3. Enhance customer support
Shorten delivery times for products and
enhance support for customers in Central and Eastern European
countries by manufacturing and processing KUA custom-made tools at
GMT’s production site.
Company Overview
Company name Garsdalo Medienos Technologija UAB Established
April 17, 1998 Location Vilnius, Republic of Lithuania
Representative Mr. Ole Garsdal Operations Development, manufacture
and sales of woodworking tools Employees 42 (as of March 31,
2015)
About KYOCERA
Kyocera Corporation (NYSE:KYO)(TOKYO:6971), 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 electronic components, printers, copiers, solar power generating
systems, mobile phones, semiconductor packages, cutting tools and
industrial ceramics. 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 #531 on Forbes
magazine’s current “Global 2000” listing of the world’s largest
publicly traded companies.
KYOCERA Corporation (Japan)Hina Morioka,
+81-(0)75-604-3416Corporate
Communicationswebmaster.pressgl@kyocera.jpFax:
+81-(0)75-604-3516http://global.kyocera.com/
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