Minebea Co., Ltd.
Acquisition of myonic Holding GmbH
Minebea Co., Ltd. ("Minebea") hereby announces that it has agreed with the shareholders of myonic Holding GmbH (Head Office: Leutkirch, Germany, "myonic") on the acquisition of all shares of the said company - a manufacturing and sales company of special bearings for use in the dental, medical equipment and aerospace industries.
myonic has manufacturing sites in Germany and the Czech Republic, as well as sales bases in Europe and the U.S., increasing sales, mainly in the dental and medical equipment markets, with manufacturing skills in high-precision bearings. Minebea owns New Hampshire Ball Bearings, Inc. ("NHBB"), a U.S. subsidiary with its strengths in bearings for use in dental and medical equipment, like myonic. Going forward, Minebea will seek to expand sales, by positioning myonic as a European base for these products and making it establish a collaborative/complementary relationship with NHBB. Minebea will also aggressively address the development of special bearings for aerospace use, aiming to further reinforce its leading position in miniature bearings.
myonic's strengths are being made the most of in the dental equipment markets across the world. The acquisition will therefore enable us to further expand sales of myonic products in the European aerospace market, in which Minebea is strong.
myonic is manufacturing and selling a wide variety of products, such as the following:
- Miniature bearings (inch/mm size)
- Thrust bearings
- Torque tube bearings for dental equipment
- X-ray tube bearings
- Aircraft bearings, etc.
Minebea will acquire the shares directly from the current shareholders, while myonic will, under the control of NHBB, collaborate to further expand business.
By this acquisition, Minebea will own all the shares of myonic Holding GmbH, myonic GmbH (Germany), myonic s.r.o (the Czech Republic), and myonic U. K. (the United Kingdom), as well as succeed certain assets of myonic Inc. (the United States)
1. Outline of Minebea
|(1)Trade Name||Minebea Co., Ltd.|
|(2)Principal Office||4106-73, Oaza Miyota, Miyota-machi, Kitasaku-gun, Nagano, Japan|
|(4)Date of Incorporation||July 1951|
|(5)Capital||¥68,258 million (Year ended March 31, 2008)|
|(6)No. of Employees
|50,549 (Year ended March 31, 2008)|
|(7)Principal Lines of Business||Manufacture and sale of machined components, rotary components, and electronic devices and components|
(As of Mar. 31, 2008)
|¥131,730 million (Year ended March 31, 2008)|
|¥320,544 million (Year ended March 31, 2008)|
|¥334,431 million (Year ended March 31, 2008)|
|(12)Financial Closing Date||March|
|(13)Relationships with myonic Holding GmbH||Capital relationships, personnel relationships, etc.: None|
2. Outline of myonic
|(1)Trade Name||myonic Holding GmbH|
|(2)Principal Office||Steinbeisstrasse 4, D-88299 Leutkirch, Germany|
|(3)Representative||Bernard Böck (Managing Director)
Walter Heilmann (Managing Director)
|(4)Date of Incorporation||1936 (Established as RMB SA)|
|(5)No. of Employee
|433 (As of June 30, 2008)|
|(6)Principal Lines of Business||Manufacture and sale of special bearings for use in the dental, medical equipment and aerospace industries|
(As of Dec. 31, 2007)
|EUR 15,317 thousand (Year ended December 31, 2007)|
|EUR 30,076 thousand (Year ended December 31, 2007)|
|EUR 32,075 thousand (Year ended December 31, 2007)|
|(11)Financial Closing Date||December|
|(12)Relationships with Minebea||Capital relationships, personnel relationships, etc.: None|
3. Future Outlook
The transfer date of this acquisition is scheduled for around the end of February 2009. We expect that the impact of the acquisition on Minebea's operating results for the fiscal year ending March 31, 2009 will be minor for both consolidated and non-consolidated results.
|Company Name:||Minebea Co., Ltd.|
President and Chief Executive Officer
(Code No. 6479 TSE Div. No. 1)
|Contact Person:||Yasunari Kuwano
Corporate Communications Office
Corporate Planning Division
Product information, contact and other context are subject to change without prior notice.