OMRON Finalizes Acquisition of SCIENTIFIC TECHNOLOGIES, INC.; Creating Global Market Leader in Safety Business for Factory Automation.Tokyo, Japan, Sept 13, 2006 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - OMRON Corporation (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : 6645, ADR ADR - Astra Digital Radio : OMRNY) announced on September 13, 2006 that it had completed its previously announced acquisition of 100% of the shares of SCIENTIFIC TECHNOLOGIES, INCORPORATED, ('STI') for a purchase price of US$94 million. The terms of the transaction were approved by the US Securities and Exchange Commission (SEC) on August 24, 2006, and at an extraordinary meeting of STI STI systolic time intervals. shareholders held on September 12, 2006. STI's shares were acquired by OMRON MANAGEMENT CENTER OF AMERICA, INCORPORATED, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of OMRON Corporation, and the newly acquired company has been renamed OMRON SCIENTIFIC TECHNOLOGIES, INCORPORATED ('OSTI'). As a result this acquisition, OMRON becomes the NO.1 player in the 110 billion yen (approx. US$940 million) global safety device market*, which is predicted to grow 15% per year backed by a rising trend for Corporate Social Responsibility (CSR (1) (Customer Service Representative) A person who handles a customer's request regarding a bill, account changes or service or merchandise ordered. Agents in call centers are known as CSRs. See call center. ) that stresses not only improved productivity but also workplace safety. In line with the automation and globalization globalization Process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world. Factors that have contributed to globalization include increasingly sophisticated communications and transportation of production processes, manufacturers have increased their focus on Safety, Quality and the Environment. OMRON, as a primary supplier to industrial workplaces, has responded accordingly. In April of last year, it established a dedicated safety devices division. It enhanced its safety devices lineup of components and networks, and boosted its system solutions capabilities and safety-design consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" . Now, having completed this latest acquisition, it plans on growing its safety business aggressively, aiming to achieve a three-fold increase in sales from 10 billion yen (US$85 million) in fiscal year 2005 to 30 billion yen (US$255 million) by fiscal year 2008. STI's products include a wide range of components for safety light curtains A light curtain is a device which uses an array of photoelectric sensors to detect the presence of an object. Light curtains are commonly used with industrial equipment to 1) ensure machine safety at a point of operation control, area access control, or perimeter access, or 2) , laser scanners, and other safety devices and services, and the company has developed strengths across multiple sectors including the automotive, semiconductor, electronic devices, food processing Food processing is the set of methods and techniques used to transform raw ingredients into food for consumption by humans or animals. The food processing industry utilises these processes. , chemicals and cosmetics industries. "In addition to enhancing our product line-up, we plan to accelerate new product development by integrating STI's patented optical applications, expertise in device ruggedization, and value-added services with OMRON's own innovative automation, sensing and control technologies," said Yoshinori Matsueda, the newly appointed CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of OSTI OSTI Office of Scientific and Technical Information . * Market figures are for the fiscal year ended March 31, 2006.
1. Shares Acquired SCIENTIFIC TECHNOLOGY, INCORPORATED 86%
Individual Shareholder 14%
2. Date of Share Acquisition September 12, 2006
and Company Name Change
3. New Company Name OMRON SCIENTIFIC TECHNOLOGIES, INCORPORATED
4. Overview of OMRON SCIENTIFIC TECHNOLOGIES, INCORPORATED
(1) Main Business Lines Manufacturing, development, sales,
consultation and servicing of safety devices.
(2) CEO YOSHINORI MATSUEDA
(Former General Manager of OMRON's Safety
Devices Division Marketing Department)
(3) Paid-in Capital US$10,000 (Wholly owned by OMRON Management
Center of America, Incorporated)
(4) Location 6550 Dumbarton Circle
Fremont, California 94555, USA
(5) Number of employees 320 employees
(6) Sales US$52,141,000 (for the fiscal year
ended December 31, 2005)
About OMRON 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 28,000 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 the US (Chicago). For more information, visit OMRON's website at www.omron.com Source: OMRON Contact: OMRON Corporation Corporate Brand Communications Department James Seddon Email: james_seddon@omron.co.jp Phone: +81-3-3436-7202 Fax: +81-3-3436-7029 Copyright [c] 2006 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K. |
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