SENCO Acquired by Kyocera of Japan
Japan-based Kyocera Corp. acquired 100% ownership of fastener and tool manufacturer SENCO Holdings, Inc., based in Cincinnati, OH, for an undisclosed sum.
The enterprise has been renamed KYOCERA SENCO Industrial Tools. The company has 569 employees, and is led by CEO Benjamin C. Johansen.
Established in 1948 by Albert Juilfs, SENCO designs and manufactures fasteners and power fastening tools for residential, commercial, manufacturing and construction applications. SENCO’s manufacturing and marketing are concentrated in the U.S. and Europe, with products sold in more than 40 countries. Web: senco.com
With the acquisition of SENCO, Kyocera plans to increase its sales of fastening tools and fasteners to JPY40 billion (US$361 million) by the fiscal year ending March 31, 2021.
Kyocera entered the industrial tools market in the 1970s with a line of high-speed metal processing tools, and has expanded into precision tools for electronics, aerospace, automotive, medical and woodworking applications. Kyocera’s 2011 acquisition of the Unimerco Group in Europe (now Kyocera Unimerco) added a fastening tool product line “that promises excellent synergies with SENCO’s longstanding expertise in the fastening tools and fasteners market,” Kyocera stated.
Kyoto-based Kyocera Corporation, the parent and global headquarters of the Kyocera Group, was founded in 1959 as a producer of fine ceramics. By combining these engineered materials with metals and integrating them with other technologies, Kyocera has become a supplier of cutting tools, electronic devices, semiconductor packages, printers, copiers, mobile phones, solar power generating systems and industrial components.
During the year ended March 31, 2017, the company’s consolidated net sales totaled 1.42 trillion yen (US$12.7 billion). Web: global.kyocera.com
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