Yokogawa Electric and Ando Electric Sign Partnership Agreement
Yokogawa Electric Corp. (Japan) and Ando Electric Co. (Japan) have signed a partnership agreement in which the companies will collaborate on business strategies for their test and measurement and semiconductor test equipment product lines. At the same time, NEC (Japan), which currently holds 35 percent of Ando's issued shares, has agreed to transfer all but two percent of these shares to Yokogawa.
The alliance between Ando and Yokogawa will center on Ando's measurement systems for optical communications, together with Yokogawa's test instruments for the development of communications networks and multimedia equipment. It also covers areas in which both companies have been involved, such as ATE semiconductor testing and device handling systems, where the partners intend to offer a wide range of products and services to create greater customer satisfaction and global competitiveness as test solutions providers.
The collaboration in their ATE and measurement equipment businesses by the two partners is worth 130 billion yen, or a little over $1.1 billion dollars. However, the two companies forecast this figure to double by 2005.