TDK subsidiary to take over Entrotech's HDD-related companies
Japanese multinational TDK Corporation has announced that its Thailand-based subsidiary Magnecomp Precision Technology Plc (MPT) agreed to acquire two hard disk drive (HDD) related companies from Entrotech Inc.
In a statement released to The Wall Street Transcript, TDK said that MPT will buy EntroComponent Solutions LLC and EntroComponent Solutions Singapore Pte Ltdfrom the US-based specialty polymer and resin manufacturer. MPT also inked a business alliance agreement with Entrotech. Under the agreement, the two companies will develop technologies utilizing Entrotech's specialty polymers and resins, and their application to other products, the statement said. Financial terms of the deal, however, were not disclosed.
TDK said the acquisition is intended to enhance its HDD-related components lineup and further differentiate TDK Group to strengthen its competitiveness.
MPT specializes in the manufacture and sales of suspension assemblies for HDD heads. It supplies products globally from its base in Thailand, the statement said.
TDK is a leading electronics company based in Tokyo, Japan. The company posted a total sales of USD9.1 billion in fiscal year 2014, it said.