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KYOCERA Has Acquired 100% Ownership of SENCO
Acquisition expands KYOCERA’s fastening tools business in residential, commercial, manufacturing and construction applications.
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.
Source: Business Wire
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