KYOTO, Japan--(BUSINESS WIRE)--Kyocera Corporation (NYSE:KYO)(TOKYO:6971) announced that it has acquired 100% ownership of fastener and tool manufacturer SENCO Holdings, Inc. (CEO: Benjamin Johansen), based in Cincinnati, Ohio, as of August 7. The enterprise has been renamed KYOCERA SENCO Industrial Tools, Inc.
SENCO, established in 1948, is a leader in creating fasteners and power fastening tools for residential, commercial, manufacturing and construction applications. SENCO is renowned for its excellent product quality and diverse line, which includes pneumatic and electric nailers, staplers, screw systems and compressors, as well as nails, staples, screws and specialty fasteners. SENCO’s manufacturing and marketing are concentrated in the U.S. and Europe, with products sold in more than 40 countries worldwide.
Kyocera entered the industrial tools market in the 1970s with a line of high-speed metal processing tools, and has steadily expanded into precision tools for electronics, aerospace, automotive, medical and woodworking applications. Kyocera’s 2011 acquisition of the Unimerco Group in Europe (now Kyocera Unimerco) added a fastening tool product line that promises excellent synergies with SENCO’s longstanding expertise in the fastening tools and fasteners market. With the acquisition of SENCO, Kyocera plans to increase its sales of fastening tools and fasteners to JPY40 billion (about USD361 million) by the fiscal year ending March 31, 2021.
About SENCO Holdings, Inc.
|Company name||SENCO Holdings, Inc.|
|CEO||Benjamin C. Johansen|
|Global headquarters||Cincinnati, Ohio, U.S.A.|
|Main business||Manufacture and sales of power fastening tools and fasteners|
|Employees||569 (as of March 31, 2017)|
Related Kyocera Products
Kyocera Corporation (NYSE:KYO/TOKYO:6971; http://global.kyocera.com/), 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 cutting tools, electronic devices, semiconductor packages, printers, copiers, mobile phones, solar power generating systems and industrial components. During the year ended March 31, 2017, the company’s consolidated net sales totaled 1.42 trillion yen (approx. USD12.7 billion). Kyocera appears on the “Top 100 Global Innovators” list by Clarivate Analytics and is ranked #522 on Forbes magazine’s 2017 “Global 2000” list of the world’s largest publicly traded companies.