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11 Aug 17. NHBB Parent Agrees to Acquire C&A Tool Engineering, Inc. MinebeaMitsumi Inc. (MinebeaMitsumi), ultimate parent company of New Hampshire Ball Bearings, Inc. (NHBB), has signed a Stock Purchase Agreement to acquire all of the shares of C&A Tool Engineering, Inc. (C&A), a leading advanced manufacturing company offering high precision, technically complex parts across the medical, aerospace & defense, fuel system, and industrial end markets.
C&A meets the conditions of MinebeaMitsumi’s acquisition strategy by increasing its footprint in aerospace and medical markets and boosting its machined components business. C&A expands MinebeaMitsumi’s offering of machined components within its competencies of manufacturing to tight tolerances and extreme complexity.
The acquisition, a joint investment with Development Bank of Japan (DBJ), is expected to be completed in the next 30 days, pending certain regulatory approvals. The transaction will be executed as a joint investment of 51% and 49% by MinebeaMitsumi and DBJ respectively. Post acquisition, C&A will operate under the NHBB/myonic Business Unit while financial consolidation will take place with MinebeaMitsumi in Japan. Under the NHBB/myonic Business Unit, C&A will gain market and customer experience, as well as global sales reach and expanded resources. With the addition of C&A, and prior acquisitions of myonic and CEROBEAR, the NHBB/myonic Business Unit will now operate five manufacturing facilities in the United States, two in Germany, and one in Czech Republic. C&A was founded in 1969 and employs over 580 people. The company is headquartered in Churubusco, Indiana and has over 700,000 sq ft of space in three Indiana facilities. C&A provides customized solutions from design and planning to fabrication and final inspection to top OEM’s in their diverse end markets. In addition to custom components for the aerospace, fuel system, and industrial markets, C&A also manufactures surgical implants and instruments for spine, knee, and hip applications. Their early adoption of Additive Manufacturing is a competitive advantage as their backlog in this area continues to grow. C&A is one of the first companies to have their direct metal laser sintering (DMLS) operational process permitted to support customer approved Food and Drug Administration (FDA) products. New Hampshire Ball Bearings, Inc. is a leading manufacturer of precision bearings and complex bearing assemblies for the global aerospace, defense, medical, dental, and high technology markets. Its product mix includes precision miniature and instrument ball bearings, large ball and roller bearings for aircraft engines, and specialized rod end and spherical bearings for a wide array of aircraft applications. NHBB is a subsidiary of MinebeaMitsumi Inc., a comprehensive precision components manufacturer with 59 manufacturing facilities in 16 countries with approximately 91,000 employees worldwide. MinebeaMitsumi is headquartered in Tokyo, Japan and is traded on the Tokyo Stock Exchange (TYO:6479). (Source: BUSINESS WIRE)
09 Aug 17. Boustead posts sales decline but defence ambitions remain strong. Malaysian group Boustead Heavy Industries Corporation (BHIC) has reported a decline in revenues and profits during the second quarter of 2017, it said on 9 August.
The company said in a filing to the Bursa Malaysia stock exchange that its revenues in the quarter ended 30 June were MYR43.7m (USD10.2m), a 37% decline compared against the corresponding period in 2016. Net profit in the quarter was MYR23.9m, a year-on-year decline of 5%. Comparing the financial performance it achieved in the first six months of 2017 with the first six months of 2016, BHIC said that while its revenue