Kyocera Corporation is to acquire 100% ownership of US-based solid tool manufacturing and sales company, SGS Tool Company and its group companies.

Kyocera plans to rename the company Kyocera SGS Precision Tools and increase the sales of its cutting tool business in North America by 2.5 by March 2019.

‘By incorporating SGS Tool into the Kyocera Group, Kyocera will create a business structure capable of providing total solutions and strengthen its business globally as a valuable comprehensive cutting tool manufacturer,’ the company said in a press release.

This story is adapted from material from Kyocera, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.