Industry News

An item in the April 1 issue of The Kiplinger Letter suggested that a tough business climate for makers of various products will spur mergers and acquistions among companies looking "to consolidate forces to keep going." And judging from the spate of mergers and acquisitions announced since the beginning of this year, it would appear the prediction was no April Fool's Day joke.

The addition of over 15,000 sq. ft. was designed to increase assembly capabilities and provide additional space for newly acquired capital equipment

One constant fear in regard to automation is that it will make human workers obsolete. Citing a 2013 University of Oxford study, University of Cincinnati Assistant Professor of Economics Michael Jones wrote that almost half of those employed in the U.S. are at risk of being replaced by automation over the next 10 to 20 years, with transportation, logistics and administration as the most vulnerable occupations.

In an effort to expand its reach within the aerospace industry, OSG USA Inc. has purchased Amamco Tool & Supply Co. Inc., an ISO 9001:2008 and AS9100C registered company that makes high-quality, custom, carbide tools for manufacturers in the aerospace, automotive and medical industries, according to an OSG USA news release issued today.

Effective May 2, Kyocera Corp. will acquire 100 percent ownership of the SGS Tool Co., to expand the Japanese company's current North American cutting tool business by 2.5 times by March 31, 2019, according to Kyocera President Goro Yamaguchi, who announced the deal in a company news release issued March 30. By incorporating SGS Tool, which is based in Munroe Falls, Ohio, Kyocera plans to create a business structure capable of providing total solutions and strengthen its business globally as a comprehensive cutting tool manufacturer, according to the Kyocera news release. SGS Tool will be renamed Kyocera SGS Precision Tools Inc.