NTC BECOMES WHOLLY-OWNED SUBSIDIARY OF KOMATSU GROUP
NOVI, MI (October 1, 2008) - It is described as a "synergy effect" that leverages the R&D and product development strengths of two companies on the leading edge of innovation. Komatsu Ltd. and Nippei Toyama Corp. (NTC) today announce a merger of the two companies. NTC becomes a wholly-owned subsidiary of Komatsu making the entity the world's third largest metal processing machine manufacturer based on 2006 sales revenues.
The new name, Komatsu NTC Ltd., is legally takes effect October 1, 2008. A combined branding effort is also scheduled to be unveiled in Japan where NTC has been headquartered for over 50 years. While these changes also benefit NTC's North American operations, the Novi, MI-based NTC America will retain its existing name and marketing focus.
In addition to expanded resources and capabilities, the merger is expected to result in improved sales and efficiency of 30% as a result of expanded distribution channels and resources.
"We are very excited about this new business arrangement for NTC," said Ryoichi Horiike, general manager of Komatsu NTC Ltd. in Japan. "It brings our expertise and capabilities to an entirely higher level in the industrial machinery business. This association is a perfect synergy for both companies."
NTC is a leading global supplier of high performance Machining Centers, 3 & 5 axis Laser Systems and Grinding Machines. NTC is also the number one supplier to the automotive industry for automated flexible agile transfer systems throughout the world. Founded in 1950, NTC, headquartered in Japan, has nearly 800 employees across the world in Asia, North America and Europe.
The machining center division, NTC Machine Tool, provides highly productive and reliable machining centers for the automotive, healthcare and aerospace industries. For more information on NTC and NTC Machine Tool, please visit www.ntcamerica.com and www.ntcmc.com, respectively.
Komatsu Group is based in Tokyo, Japan and has 208 subsidiary companies that focus on its core business initiatives in the manufacture and sale of construction and mining equipment, utilities and industrial machinery.