February 18, 2013
As Amada Machine Tools Co. Ltd., Kanagawa, Japan, has announced plans to acquire 100 percent ownership of Miyachi Corp., Tokyo, by making a takeover bid, which has been approved by the Miyachi board of directors.
Amada plans to make Miyachi its consolidated subsidiary at the end of March and to complete acquisition of all of Miyachi stocks around the middle of June.
Some of the goals of the acquisition are to develop new products combining the different laser technologies of the two companies; to broaden the markets of both companies; to develop global business using both companies’ sales and service networks and brand recognition; and to consolidate facilities and functions worldwide to increase efficiency and reduce overall costs.
Amada intends to maintain Miyachi's independent business operation and brand while providing substantial capital ties.