Osaka, Japan-based, Kyocera Mita Corporation is planning to take over TA Triumph-Adler AG, a leading specialist in the document business, by expanding its stake in the German company to around 60-75 per cent from the current 29.9 per cent.
Kyocera Mita, the electronics manufacturer, will submit a voluntary public takeover offer to secure around 60-75 per cent at €1.90 ($2.40) to the shareholders of TA Triumph-Adler AG, valuing the company at €105 million ($133 million).
Kyocera Mita has already made the official announcement of the tender offer in Germany as per the legal provisions of the German Takeover Act (WpUG).
Initial discussions between Kyocera Mita and Triumph-Adler relating to the takeover offer have already taken place. Both companies are confident, that the acquisition will strengthen its existing ties and open significant growth perspectives for Kyocera Mita and Triumph-Adler.
The board of Triumph-Adler, said that it "adopts an essentially positive stance" to the plans, since Kyocera Mita takeover plans has "advantages for the staff members, shareholders and customers of the Triumph-Adler Group."
Kyocera Mita also has business with TA Triumph-Adler AG for more than 30 years where it supplies digital copiers, fax machines and printers to Triumph-Adler who in turn leases and maintains them.
Kyocera Mita said Triumph-Adler would remain a listed company for the time being and the stock of Triumph-Adler doubled after the takeover announcement.
Triumph-Adler AG, headquartered in Nuremberg, Germany is more than a century old company, established in 1896 and has been in the business of information technology and supplying and servicing printers, multi-functional products and fax machines.
It has 60 direct sales locations within Germany which provides solution, sales and services and also has a distribution business which exports to 33 different countries in Europe, Middle East and Africa.
Kyocera Mita will now be able to make important decisions together with Triumph-Adler and expand its business by utilising the two company's infrastructure to direct sales outside of Germany in Europe and increase its level of service over a broader area which will lead to expansion of its business.
Kyocera Mita is a wholly owned subsidiary of Kyocera Corporation and is globally engaged in a diverse range of products such as advanced materials, components, devices, equipment, networks and services.
Kyocera Mita is also in India with Kyocera Wireless India (KWI), based in Bangalore and was established as a subsidiary of Kyocera Wireless Corp. in August 2003.It currently employs more than 550 people.
KWI has provided handsets to India's four largest CDMA carriers: Reliance, Tata Teleservices, BSNL, and MTNL. Kyocera also assembles phones in India through a partnership with XL Telecom and is involved in software engineering, product testing and research & development activities in India.