Onkyo & Teac Acquire Each Other’s Stock in Strategic Move
Teac and Onkyo say the companies are looking at ways to share manufacturing facilities, logistical centers, as well as research and development resources.
As part of its corporate goal to enhance shareholder value and meet the demands of a changing marketplace, the global electronics manufacturer TEAC Corporation announced a strategic alliance with Onkyo Corporation. The alliance between Onkyo and TEAC is designed to produce a synergistic relationship that will drive both companies commitment to excellence and passion for engineering, designing and manufacturing products that deliver value and exceed customers expectations.
Through this strategic alliance, TEAC and Onkyo will acquire shares of each other’s stock. The companies are exploring ways to share manufacturing facilities, logistic centers, plus research and development resources. TEAC president, Yuji Hanabusa says the strategic alliance of Onkyo and TEAC will make both companies more competitive in an ever-changing market. Onkyo president, Munenori Otsuki, adds the alliance with TEAC offers unique opportunities for both companies to leverage each other’s considerable strengths.
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