Tokyo (ANTARA News/Asia Pulse) - Measuring instrument maker Watanabe Electric Industry Co. will acquire the electronic measuring instrument division of Fuji Electric Holdings Co. (TSE:6504) group member Asahi Keiki Co. for an estimated 600 million yen (US$6.7 million).

The acquisition is expected to be completed within the year, making Watanabe Electric the dominant player in the Japan market for digital panel meters with a roughly 60 per cent share.

Watanabe Electric will assume control of the division, which has 74 employees, as well as the land, buildings and machinery of the Fukushima Prefecture plant where products are manufactured.

Source:
Business in Asia Today - Nov 11, 2009
published by <a href="http://www.asiapulse.com">Asia Pulse</a>