Chicago Pneumatic Buys Japanese Tool Manufacturer
Chicago Pneumatic Vehicle Service Division recently acquired Tokyo based KTS Co. Ltd., a leading Japanese maker of handheld air tools for the vehicle service market. The agreement, which was signed in December 2007, further strengthens the presence of CPVS, and its range of tools and associated products to the automotive aftermarket sector, in Japan and Asia.
KTS’ product range includes Power Magnum branded tools as well as air tools sold under other OEM brands. KTS serves the second largest automobile market in the world, providing Chicago Pneumatic with a brand, sales force and manufacturing arm which will facilitate fast growth in Japan and throughout Asia.