— New Company to be Named OMRON LASERFRONT INC. —
Tokyo, Japan — OMRON Corporation (TSE: 6645; ADR: OMRNY; ‘OMRON’) today confirmed that it has acquired 95% of ordinary shares in Laserfront Technologies Inc. (‘LFT’) from Japan Industrial Partners, Inc., NEC Corp. and other major shareholders. This acquisition is pursuant to a preliminary agreement to form a business tie-up and capital alliance with LFT announced on May 17, 2007.
Following the acquisition, the name Laserfront Technologies, Inc. was officially changed to OMRON LASERFRONT INC., effective today.
By adding LFT's cutting-edge laser repair, marker and welding products to its own extensive line-up of sensors and measurement devices, OMRON plans to unlock new revenue streams by offering total solutions that cover all stages of the manufacturing process, from machining and assembly through to inspection.
In addition, while OMRON has a well-established global customer base spanning multiple industries, LFT is a major supplier of laser processing equipment to the LCD, semiconductor and electronic components industries. The new alliance will allow the two companies to provide an enhanced product offering to their respective customers and achieve even greater customer satisfaction.
1. Shares Acquired
A total of 95% of LFT's ordinary shares were acquired from Japan Industrial Partners, Inc., NEC Corp. and other major LFT shareholders.
2. Date of Acquisition & Company Name Change
June 29, 2007
3. New Company Name
OMRON LASERFRONT INC.
4. Overview of OMRON LASERFRONT INC.
(1) Company name : OMRON LASERFRONT INC.
(2) Location : Sagamihara City, Kanagawa Prefecture, Japan
(3) Representative : Takeshi Matsunobu, President and CEO
(4) Main business lines : Development, design, manufacture, sales and maintenance of laser and laser processing machines
(5) Paid-in capital : JPY 1.508 billion
(6) Sales : JPY 10.3 billion (FY06)
(7) No. of employees : 247
Headquartered in Kyoto, Japan, OMRON Corporation is a global leader in the field of automation. Established in 1933 and headed by President and CEO Hisao Sakuta, OMRON has more than 30,000 employees in over 35 countries working to provide products and services to customers in a variety of fields including industrial automation, electronic components, social systems (ticket gate machines, ticket vending machines and traffic control) and healthcare. The company is divided into five regions and head offices are in Japan (Kyoto), Asia Pacific (Singapore), China (Shanghai), Europe (Amsterdam) and US (Chicago).For specific information on OMRON's industrial automation business, visit www.ia.omron.com; for corporate information, visit www.omron.com