Kyocera’s acquisition of RYOBI power tools has now been completed, paving the way for the brand to diversify and further expand its industrial tool business.
Completing the buy out announced in October, the acquisition sees Kyocera acquire 80% of shares in Kyocera Industrial Tools Corporation, an enterprise established from the company split of Ryobi Limited’s power tool business.
Through the acquisition, Kyocera is planning to take a greater share of expanding power and pneumatic tools business. So far, Kyocera has strengthened its power tool business in the US and European markets through targeted acquisitions including the Unimerco Group in Europe in 2011, and SENCO Holdings, Inc. in August of last year. The firm said: “By acquiring the power tool business from Ryobi, which has a strong market position in Japan, Asia and Africa encompassing a wide range of products with highly advanced technologies, Kyocera aims to take advantage of synergies with its relevant group companies in order to expand sales globally.”
Furthermore, Kyocera plans to leverage the expertise in product development and engineering possessed by Kyocera and Ryobi and incorporate “various kinds of components including power devices into its power tools” to enhance its product ranges. In addition, Kyocera aims to develop new products which enable productivity improvements through Kyocera’s IoT and related technologies.
Kyocera entered the cutting tool business over 40 years ago and had focused its efforts of diversifying and expanding sales of its core of indexable tools to solid carbide tools, woodworking tools, and power and pneumatic tools for the construction industry.