OMRON Acquires 95% Stake in Laserfront Technologies Inc. - New Company to be Named OMRON LASERFRONT INC. -
FOR IMMEDIATE RELEASEJune 29, 2007
Tokyo, Japan - OMRON Corporation (TSE: 6645; ADR: OMRNY; 'OMRON') today confirmed that it has acquired 95% of ordinary shares in Laserfront Technologies Inc. ( 'LFT') from Japan Industrial Partners, Inc., NEC Corp. and other major shareholders. This acquisition is pursuant to a preliminary agreement to form a business tie-up and capital alliance with LFT announced on May 17, 2007.
Following the acquisition, the name Laserfront Technologies, Inc. was officially changed to OMRON LASERFRONT INC., effective today.
By adding LFT's cutting-edge laser repair, marker and welding products to its own extensive line-up of sensors and measurement devices, OMRON plans to unlock new revenue streams by offering total solutions that cover all stages of the manufacturing process, from machining and assembly through to inspection.
In addition, while OMRON has a well-established global customer base spanning multiple industries, LFT is a major supplier of laser processing equipment to the LCD, semiconductor and electronic components industries. The new alliance will allow the two companies to provide an enhanced product offering to their respective customers and achieve even greater customer satisfaction.
1:Devices which enable high-speed and precise measurement of the line width and overlap of TFT substrates in the LCD array fabrication process. Monitoring line width variations on the substrate allows manufacturers to predict and prevent defects before they occur.
*2:These systems can repair both opened and shortened defects of metal electrodes around the thin film transistor of LCD panels by laser micro processing. These systems can dramatically improve the yield rate of LCD mass production. CVD stands for Chemical Vapor Deposition by laser.
A total of 95% of LFT's ordinary shares were acquired from Japan Industrial Partners, Inc., NEC Corp. and other major LFT shareholders.
Date of Acquisition & Company Name Change
June 29, 2007
New Company Name
OMRON LASERFRONT INC.
Overview of OMRON LASERFRONT INC.
|(1) Company name||OMRON LASERFRONT INC.|
|(2) Location||Sagamihara City, Kanagawa Prefecture, Japan|
|(3) Representative||Takeshi Matsunobu, President and CEO|
|(4) Main business lines||Development, design, manufacture, sales and maintenance of laser and laser processing machines|
|(5) Paid-in capital||JPY 1.508 billion|
|(6) Sales||JPY 10.3 billion (FY06)|
|(7) No. of employees||247|