HENDERSONVILLE, N.C.--(BUSINESS WIRE)--Kyocera announced today that it has created a new wholly-owned subsidiary, Kyocera Precision Tools, Inc., to consolidate its North American cutting tool operations in the indexable, micro-tool, and printed circuit board (PCB) cutting tool markets.
Effective today, Kyocera Precision Tools Inc. will carry the company’s full line of micro-tool and PCB cutting tool products, formerly supplied under the name Kyocera Tycom Corporation (KTC). By July 1, 2014, when the consolidation is completed, the full line of indexable cutting tool products currently supplied by the Cutting Tool Division of Kyocera Industrial Ceramics Corporation (KICC) will be merged into the new company as well.
Kyocera Precision Tools, Inc. is headquartered in Hendersonville, NC. Leading the enterprise as President is Koichi Nosaka, former general manager of cutting tools at KICC, and, as Vice President, Jim Good, former president of KTC.
All existing cutting tool sales and production facilities will continue to remain operational. Kyocera anticipates a smooth transition with no interruption in service to customers.
The new company creates a combined enterprise that optimizes the strengths of both organizations and facilitates expansion of Kyocera’s overall cutting tool-related business in North America. The new combined entity will unify cutting tool resources to create greater efficiencies while positioning the new organization for continued success. Customers will benefit from a unified sales and support team offering improved customer service and an expanded portfolio of cutting tool products and solutions for the automotive, aerospace, general machining, medical, power generation, printed circuit board and steel markets.
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Kyocera Precision Tools, Inc. is headquartered in Hendersonville, NC, with production facilities there and in Costa Mesa, CA and Wapakoneta, OH. The company provides specialized cutting tools for the aerospace, medical, automotive, general machining, power generation, printed circuit board and steel markets.
Kyocera Corporation (NYSE:KYO) (TOKYO:6971), the parent and global headquarters of the Kyocera Group, was founded in 1959 as a producer of fine (or “advanced”) ceramics. Kyocera specializes in combining these engineered materials with other technologies to create cutting tools, industrial components, electronic devices, semiconductor packages, solar power generating systems, printers, copiers and mobile phones. During the year ended March 31, 2013, the company’s net sales totaled 1.28 trillion yen (approx. USD13.6 billion).