Kyocera Corp. has completed a share purchase agreement to acquire 100 percent of the U.S.-based solid tool manufacturing and sales company, SGS Tool Co.
Effective May 2, Kyocera will rename the company as KYOCERA SGS Precision Tools Inc. By incorporating SGS Tool, Kyocera plans to increase sales of the cutting tool business in North America by 2.5 times by the fiscal year ending March 31, 2019.
Kyocera has become a leading supplier of cutting tools, industrial ceramics, solar power generating systems, mobile phones, printers, copiers, electronic components and semiconductor packages. During the year ended March 31, 2015, the company’s net sales totaled 1.53 trillion yen (approx. $12.7 billion USD).
Cutting tools are utilized for machining in various industrial fields, including automotive, aerospace, energy, general industrial machines and medical related products.