Optical-Glass Firm Buys Camera Maker Pentax

Date: 25 December 2006
Source: Baltimoresun.com

Date: 25 December 2006

Hoya Corp., Japan's largest optical glass maker, agreed to buy camera maker Pentax Corp. for 90.6 billion yen ($765 million) to add endoscopes and surgical scissors.





Hoya will pay 0.158 of stock, or 709.42 yen, for each Pentax share, the companies said yesterday. The offer is 10.5 percent higher than yesterday's closing stock price.



Medical equipment sales at Pentax grew 23 percent in the year that ended March 31 as the company cut its reliance on single-lens reflex cameras because of increased digital competition from Canon Inc. and Sony Corp.



Pentax also announced yesterday a venture with Italy's Movi SpA to increase sales of endoscopes and binoculars in Europe.



"This is a positive surprise," said Hisashi Moriyama, an analyst at JPMorgan Securities Japan. "Hoya will be able to obtain in a friendly manner a major player in the increasingly exclusive and growing" SLR camera and endoscope markets.



Read the entire nws on the source link below.
600450 Optical-Glass Firm Buys Camera Maker Pentax glassonweb.com

See more news about:

Others also read

MORE...

Potters Industries Inc. Announces Price Increase For Metal Finishing and Impact Glass Bead Products
Potters Industries Inc., an affiliate of PQ Corporation, announced today that, effective February 15, 2007, the price on all Metal Finishing Glass Bead and Ground Glass product shipments will increase up to 3 cents a pound.
Lincoln Glass Celebrates 50th Year
Owners of Lincoln Glass in Newport, Dan and Elayne Mason, celebrated their 50th anniversary in the business this year. Dan's parents, John and Grace Mason, established Lincoln Glass in 1956 and oversaw day-to-day operations for 20 years.
Retail Architects Say Better-Looking Stores Mean Profits
Edward A. Shriver Jr., a Pittsburgh architect who works in retail store design, encourages architects and retail owners alike to "think outside the box," light years away from the designs that have dominated American retail architecture in recent decades.
Mysterious Egyptian Glass Formed by Meteorite Strike, Study Says
Strange specimens of natural glass found in the Egyptian desert are products of a meteorite slamming into Earth between 100,000 and 200,000 years ago, scientists have concluded.
Business Of Glass Manufacturer Gecsat Down 16%
ZF.com reported that Tarnaveni (Romania)-based Gecsat, estimates an approximately 6.4 million-euro turnover for this year, a 16% drop against last year, when the company posted a 7.6 million-euro turnover.
DuPont Highlights Prospects for Renewable Energy in Europe
Hartmut Reinke, director, Eastern and Central Europe/Middle East and Africa, and Michael Dolan, industry leader, DuPont Biofuels, Europe, Middle East, and Africa, recently participated in the conference on Renewable Energy Prospects for Central and South Eastern Europe, hosted by the Institute for European Affairs and the Slovenian government in Ljubljana, Slovenia.

Add new comment