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[Company Information]Purchase AcoustiSeal, Inc., which makes seals for U.S. automobiles
12.12.2002
On December 9, 2002, the U.S. 100% owned subsidiary of Nitto Denko Corporation, Nitto Americas, Inc. (New Jersey, USA) purchased AcoustiSeal, Inc., which manufactures and sells automobile body seals in Missouri USA.
Background and objective of purchase
The Nitto Denko Group has been actively expanding its automobile related materials business in the United Sates. The company now not only imports and sells automobile related materials manufactured in Japan, but has purchased Permacel, Inc., and manufactures and sells automobile seals for American customers.
In order to further expand business oriented toward the U.S. automobile industry, the company has begun considering purchasing U.S. companies. One of the companies considered was AcoustiSeal. After making the necessary inquiries, it was bought.
The objectives of purchasing the company were (1), to become a "total solution provider" of seals to complement the existing line of Nitto Denko Group products, and (2) to strengthen the sales route to the "Big 3" U.S. automobile manufacturers.
Overview of purchase
| 1) Form of purchase: | Business transfer |
|---|---|
| 2) Purchase target: | All tangible and intangible fixed assets of AcoustiSeal, Inc. |
| 3) Purchase price: | U.S. $16.5 million |
| 4) Purchase completion day: | December 9, 2002 |
Overview of purchased company
| Company Name | : | AcoustiSeal, Inc. |
|---|---|---|
| Head Office | : | Kansas City, Missouri, USA Address : 8485 Prospect Avenue, Kansas City, Missouri 64132, USA |
| Type of business | : | Manufacture and sale of seal materials for automobiles |
| Established | : | 1938 |
| Locations | : | factories - Kansas City, Missouri St. Louis, Missouri Research center - Troy, Michigan |
| Annual business | : | U.S. $72 million |
| Number of employees | : | 581 |
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