Notice Concerning Acquisition of Shares
in U.S. Medical Equipment Components Companies
(Making Them Subsidiaries)
January 21, 2016
Hitachi Metals, Ltd.
Hitachi Metals, Ltd. has concluded membership interest purchase agreements with the membership interest owners of HTP-Meds, LLC ("HTP-Meds") and Hi-Tech Machine and Fabrication, LLC ("HTMF"), which are engaged in the medical tubing business. Hitachi Metals America, LLC ("HMA"), a subsidiary of Hitachi Metals, Ltd. will acquire 100% of the interest in each of these companies.
1.Background and Purpose of Share Acquisition
Hitachi Metals' Social Innovation strategy sees transportation, medical technology, and electronic components for automobile as primary drivers of future growth in our cable related businesses.
Adding HTP-Meds companies and investing in expanding its capabilities will br oaden Hitachi Metals ' solutions in the medical cable segment, while complementing the significant ultrasound diagnostic cable and assembly business Hitachi Metals now enjoys with major OEM customers.
We expect to significantly expand our medical tubing bus iness in North America, and also target growing health care opportunities in other global markets, with a view towards achieving sustainable mid - term and long term growth. We welcome the HTP family to the Hitachi Metals team.
2.Summary of Share Acquisition
HMA, a consolidated subsidiary of Hitachi Metals, Ltd., will acquire 100% of the membership interest in HTP-Meds and HTMF. The acquisition is expected to close in February 2016.
3.Outline of Companies Whose Shares Are Being Acquired
| Company name | HTP-Meds, LLC |
|---|---|
| Location | Ashaway, Rhode Island, U.S.A. |
| Title and name of representative | Raymond J. Quinlan, CEO |
| Business details | Manufacture and sale of medical tubing |
| No. of employees | 99 (as of December 31, 2015) |
| Company name | Hi-Tech Machine and Fabrication, LLC |
|---|---|
| Location | Ashaway, Rhode Island, U.S.A. |
| Title and name of representative | Lydia R. Teixeira and Raymond J. Quinlan, Co-CEOs |
| Business details | Manufacture and sales of machine molds |
| No. of employees | 23 (as of December 31, 2015) |
About Hitachi Metals, Ltd.
Hitachi Metals, Ltd., (TSE: 5486), headquartered in Tokyo, Japan, with approximately 30,278 employees worldwide and consolidated revenue totaled over 1,004 billion yen in fiscal 2014 (ended March 31, 2015), is one of the major members of the Hitachi Group of companies. The company manufactures and markets a diverse portfolio of high-grade metal products and materials, magnetic materials and applications, wire, cables, and related interconnecting solutions. To learn more, visit www.hitachi-metals.co.jp/e/
For inquiries regarding this matter :
Hitachi Metals America, LLC
Katsura Ishikawa
TEL: 1 ( 914 ) 304-4932