Announcement of acquisition of AGVE AB

The shareholders of AGVE AB (hereinafter, AGVE) have entered into an agreement with Murata Machinery, Ltd. (hereinafter, Muratec) whereby Muratec will acquire all the issued stock of AGVE AB of Gothenburg Sweden, from the existing shareholders. AGVE and its fully owned subsidiaries, AGV Solutions LLC in the US and AGVE Ltd in UK, will become 100% subsidiaries of Muratec.

The combination of AGVE and Muratec’s technical resources will enable enhanced AGV solutions to be jointly developed. The products will be supplied across the world utilizing Muratec’s strength in the Asian and Japanese market and AGVE’s existing presence in the European and US markets. The new business will build on Muratec and AGVE’s long track record of innovative products and impressive growth in the AGV market.

The global market for AGVs is showing strong growth and the new business structure will enable Muratec and AGVE to make even faster progress in meeting the requirements of both global and local customers. The combined business is already a major supplier to a wide range of sectors from automotive to healthcare, and pharmaceuticals to the process industries.

“The AGVE acquisition is an important part of Muratec’s strategy for the Material handling equipment market segment,” said Daisuke Murata, President and C.E.O. of Murata Machinery, Ltd. “We are facing Increasing demands for advanced AGV systems in the market these days, and feel a sense of urgency to accelerate our development activities. The rich resources of AGVE which is located in the center of the eco-system of AGV in Gothenburg will surely help us to achieve it.”

AGVE has a dedicated team of world leading engineers and by continually extending its local presence is supplying AGV systems to over 20 countries through its direct subsidiaries in USA and UK and local partners. The combination of Muratec and AGVE will achieve even stronger customer service worldwide.

The head office and main production site of AGVE will continue to be in Gothenburg Sweden.

Scheduled closing date for the share transfer is 28 February 2018, subject to conditions precedent prior to closing.

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