Chicago Pneumatic, a global designer, manufacturer and distributor of innovative aftermarket tools, accessories and compressors, has signed an agreement through its parent company Atlas Copco to acquire KTS Co. Ltd., a Japanese maker of handheld pneumatic tools for the vehicle service market. "The acquisition of KTS further strengthens the CP Vehicle Service division's position as a leading supplier of tools and associated products to the automotive aftermarket," says Yves Antier, president for Chicago Pneumatic Vehicle Service division. "The synergies we anticipate through this acquisition will offer our current customers, as well as the Japanese vehicle service market, a more comprehensive range of products and solutions." Based in Tokyo, KTS' product range includes Power Magnum tools and air tools sold as OEM brands. KTS serves the second largest automobile market in the world, providing Chicago Pneumatic with a brand, sales force and manufacturing arm which will facilitate fast growth in Japan and throughout Asia. Through the acquisition, which is expected to be completed within two weeks, KTS will be integrated into the CP Vehicle Service Division within Atlas Copco's Industrial Technique business area. KTS will continue to operate under its current name. Chicago Pneumatic is a global leader in the design, manufacture and distribution of innovative aftermarket tools, accessories and compressors. Founded in 1901, the company serves automotive, truck and heavy equipment repair, and tire and body shops with industry leading pneumatic impact wrenches, ratchets, drills, grinders, pneumatic hammers and sanders. For more information about Chicago Pneumatic, visit the company's Web site. |
