Longreach Acquires Hitachi Via Mechanics

The Longreach Group announced that it has signed an agreement with Hitachi Ltd. to purchase 100% of its subsidiary, Hitachi Via Mechanics, Ltd. The financial closing date for the Transaction is scheduled for 31 October 2013.

According to the press release of August 21, "Hitachi Via Mechanics is a leading manufacturer of micro-drilling machines for printed circuit boards and provides global customers with a range of products including spindle drilling machines, laser drilling machines and pattern edging lithography equipment (exposure machines) . The Company has one of the leading market shares worldwide in spindle micro- drilling machines and laser drilling machines and is one of very few global players with ultrafine and high precision drilling technology that can achieve the requirements for the latest smart phones and other mobile devices."

Hitachi Via Mechanics and its subsidiaries have 1,100 employees. No financial terms are disclosed.