Canon to buy 54% stake in NEC Machinery for $46 mln

Canon Inc., Japan's top copier and digital camera maker, said on Thursday it will pay about 5.1 billion yen ($46 million) to buy 54 percent of NEC Machinery Corp. a unit of NEC Corp.
Canon said NEC Machinery, a maker of chip-manufacturing equipment, possessed advanced manufacturing technologies for automation equipment and the acquisition would help Canon speed up its on-going cost-cutting effort.

Source: Reuters India


Posted: Thu - August 25, 2005 at 08:35 AM