Taiho Kogyo Co. completed the acquisition of Hengye Bearing Materials Co., Ltd..
July 31, 2012 at 12:00 am EDT
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Taiho Kogyo Co. (TSE:6470) entered into a contract to acquire Hengye Bearing Materials Co., Ltd. (Changzhou) for CNY 45 million on March 28, 2012. After the transaction, Hengye Bearing Materials Co., Ltd. (Changzhou) will operate as a wholly owned subsidiary of Taiho Kogyo Co. Hengye Bearing Materials Co., Ltd reported sales of CNY 81 million in 2011. Takahiko Kondo, Director and Managing Executive Officer of Taiho Kogyo Co. will be the Chairman of Hengye Bearing Materials. The Board of Directors of Taiho Kogyo passed a resolution for the transaction on March 28, 2012 and the transaction is expected to complete on April 9, 2012.
Taiho Kogyo Co. (TSE:6470) completed the acquisition of Hengye Bearing Materials Co., Ltd. (Changzhou) in July 2012.
TAIHO KOGYO CO., LTD. is a Japan-based manufacturer of automobile parts. The Company operates in three business segments. The Automobile Part-related segment manufactures and sells bearings, such as metal bushings, as well as other automobile components, including die cast, gaskets and solder products. This segment also distributes its products in the United States, Indonesia, Hungary, Korea, China, and Thailand. The Automobile Manufacturing Equipment-related segment is involved in the manufacture and sale of precision molds. Through its subsidiaries, this segment also supplies automobile manufacturing equipment, including carrier devices and welding machines, as well as molds and equipment components, among others. The Others segment is engaged in the building and repair work, the welfare business, as well as the packing and dispatch of automobile parts.
TAIHO KOGYO CO., LTD. 
