OMRON to Acquire Bitron SpA Automotive Relay Division
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OMRON to Acquire Bitron SpA Automotive Relay Division - JCN Newswire
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OMRON to Acquire Bitron SpA Automotive Relay Division

Kyoto, Japan and Torino, July 29, 2004 - (JCN Newswire) - OMRON Corporation (TSE: 6645; US: OMRNY), a global leader in automation, sensing and control technology, and Bitron Industrie S.p.A of Italy have announced the OMRON acquisition of the Bitron automotive relay division. Under the terms of the agreement, effected July 28th at Bitron headquarters in Torino, Italy, Bitron will transfer its automotive relay division, division employees, manufacturing facility (less land and buildings), and European automotive relay sales rights to OMRON. The agreement also creates an automotive relay joint venture company, OMRON-Bitron Automotive Electronics Srl., to be established in Alatri, Italy in October 2004. OMRON will initially hold 75% of the new company, which will extend to a 100% OMRON shareholding by March 2007.

There are two types of automotive relays - plug-in relays for large power current switches, and PCB relays (Print Circuit Board), directly mounted on the print circuit board - which are used throughout the automobile in applications such as headlights, turn signals and power switching for motors. OMRON Automotive Electronics UK Ltd. and it's German development unit, IMS VISION GmbH., produce a European lineup that mainly includes PCB type relays and related controllers and switches, while Bitron has production processes for plug-in type relays and modules.

"The combined use of plug-in and PCB relays is increasing in the European market and elsewhere, and OMRON hopes to integrate its resources with those of Bitron to expand sales across Europe, and later worldwide," said Takayuki Nakamura, Manager of the OMRON Corporate Brand Communications Department in Tokyo. "Bitron customers include many of the world's leading auto-makers. Taken with industry leading plug-in relay technology, this acquisition will increasingly enhance OMRON's automotive relay and components business in the years ahead."

Bitron SpA, headquartered in Torino, Italy, has eight factories within and four outside Italy. Bitron presently ranks 3rd in the SOM for plug-in type automotive relays, with a product lineup that includes micro ISO relays, mini ISO relays, grow plug relays and others. Customers include major automotive makers and automotive electric component makers. In addition to its relay business, to be acquired under the agreement by OMRON, Bitron also manufactures and sells temperature switches for engines, panel switches and other applications, which will remain unaffected.

About OMRON

Headquartered in Kyoto, Japan, OMRON Corporation (TSE: 6645; NYSE: OMRNY) is a global leader in the field of automation. Established in 1933 and headed by President and CEO Hisao Sakuta, OMRON has more than 33,000 employees in over 32 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 US (Chicago). For more information, visit OMRON's website at www.omron.com

Contact:

Omron Corporation
Mr.Takayuki Nakamura
+81-3-3436-7202
takayuki_nakamura@omron.co.jp
 


July 29, 2004
Source: OMRON

OMRON (TSE: 6645) (U.S: OMRNY)

From the Japan Corporate News Network
http://www.japancorp.net
Topic: Merger & Acquisition
View more news from these Sectors: Electronics General, Electronics General, Electronics General, Electronics General, Electronics General, Electronics General, Electronics General, Electronics General


 
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