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SANYO Electric transfers Chip Mounter business to Hitachi

Posted: 30 Oct 2002 ?? ?Print Version ?Bookmark and Share

Keywords:chip mounters?

Hitachi High-Technologies Corp. will acquire all the shares of subsidiaries of SANYO Electric Co. Ltd that manufacture and service chip mounters, in order to build an integrated system that includes development, manufacturing, sales, and services. The Sanyo subsidiaries to be acquired include SANYO High Technology Co. Ltd and SANYO High-tech Service Co. Ltd.

With the transfer of control, SANYO High Technology and SANYO High-tech Service will be renamed as Hitachi High-Tech Instruments Corp and Hitachi High-Tech Instruments Service Corp., respectively. Hitachi and SANYO Electric will combine the technological and sales expertise and research capabilities.

A thorough review of SANYO High Technology and SANYO High-tech Service operations will be conducted by an independent third party before the transfer of control takes place, and provided the results of this investigation are satisfactory, Hitachi High-Technologies and SANYO Electric plan to agree on a share price for the transfer before the end of January, 2003.

For SANYO Electric, the transfer of control of the chip mounter business is one part of a major structural reorganization that has already included the purchase of housing related operations, the sale of its vending machine business, and the acquisition of NiMH battery business, as well as a capital tie-up for Li-ion battery operation.

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