TOWA Corp. and Marubeni Hytech Corp. announce joint acquisition of a majority share in Intercon Tools

Business Wire, Oct 2, 1995

MORGAN HILL, Calif.--(BUSINESS WIRE)--Oct. 2, 1995--TOWA Corp. (Kyoto, Japan), President K. Bandoh and Marubeni Hytech Corp. (Tokyo, Japan), President M. Sano, have announced the joint acquisition of a majority share in Intercon Tools (Morgan Hill, Calif.).

A contract for the sale of stock closed on 29 September, 1995 in Menlo Park, Calif.

A. Tieber, will remain President of Intercon Tools of the California based manufacturer of precision I.C. Assembly Tooling and Trim/Form Systems.

TOWA Corp. and Marubeni Hytech Corp. will serve to strengthen the global sales and service network of Intercon Tools.

Bandoh, president of TOWA Corp., a manufacturer of I.C. Automatic Plastic Encapsulation Systems, and Tieber emphasized that the integration of the two companies' technologies will produce a synergistic effect resulting in products that truly satisfy customer needs.

Negotiations were facilitated through the Sakura Bank Global Business Development Division.

CONTACT: Intercon Tools, Morgan Hill

Dick Hernandez, 408/778-5992