OSG Acquires Spanish Cutting Tool Maker

OSG Corporation, Japanese major cutting tool maker, announced on Tuesday the firm acquires a whole equity in Comaher, S.A., Spanish tool maker at 3.4354 Euro (577 million yen) effective on 1 October, 2007. OSG aims to sell tooling products produced by OSG and Tungaloy, Japanese major cutting tool maker and OSG’s business partner, through Comaher and grow up the market share in Europe.Comaher possesses a wide sales network around Bilbao, the most important market of cutting tools in Northern Spain. Comaher also has a strong sales power for cemented carbide inserts. Its latest annual sales were 4.928 million Euro (827 million yen).