Kyocera to Acquire U.S. Construction Tool Distributor
Kyoto, May 7 (Jiji Press)--Japan's Kyocera Corp. <6971> said Tuesday it will acquire SouthernCarlson Inc., a U.S. distributor of tools for construction, for some 90 billion yen.
As a result of the acquisition, which will be the most expensive deal for the company to date, Kyocera aims to strengthen sales and expand its market in North America.
The company aims to complete the deal in June.
SouthernCarlson, based in Nebraska, reported some 60 billion dollars in sales for the full year ending December 2018. It operates more than 150 stores mainly in the United States.
The deal is the latest in a series of Kyocera's acquisitions in Japan and abroad of construction tool businesses, a sector expected to see demand growth and earnings stability.
[Copyright The Jiji Press, Ltd.]