Contact in TDK: Nobuyuki Koike TDK Corporation Corporate Communications Dept. Tel: (81)-3-5201-7102 E-mail; Email Contact Acquisition of a Polymer Lithium Battery manufacturing and sales company in Hong Kong
TOKYO JAPAN, June 1, 2005,---TDK Corporation (the "Company") today announces that it has completed the acquisition of Amperex Technology Limited ("ATL") (President: Dr. T.H.Chen, Headquarters: Hong Kong), a manufacturing and sales company of Polymer Lithium Battery, based in Hong Kong and having manufacturing sites in Dongguan, China.
With a purchase price of about US$100 million (JPY10.7 billion) which covers all the assets of ATL including cash on hand, the Company has now acquired 100% of ATL shares.
The acquisition this time was intended to obtain the operating base on which to develop TDK's materials technology in the field of energy, where growth is expected in the future. ATL has been specialized in the compact and yet flexible polymer lithium battery business, and has established a production system of stable quality based on its special know-how in materials technology and production engineering technology.
Facts about Amperex Technology Limited
Location: Tsuen Wan, N.T., Hong Kong, SAR, PRC
Establishment: July 1999
Employees: Ca. 3,000
Net Asset: Ca. US$50 million (JPY5.4 billion)
Business: Manufacture and Sale of Polymer Lithium Battery
- more -
About TDK
TDK Corporation (NYSE: TDK) is a leading global electronics company based in Japan. It was established in 1935 to commercialize "ferrite," a key material in electronics and magnetics. TDK's current product line includes ferrite materials, electronic components, wireless computer networking products, magnetic heads for HDD, and advanced digital recording media. For more information about TDK, please visit http://www.tdk.co.jp/tetop01/index.htm
# # #
This information is provided by RNS
The company news service from the London Stock Exchange
