(Recasts with company confirmation)
* Says to make announcement later on Wednesday
* Kyocera to buy all Unimerco shares by July 11
* Kyocera to spend $247.2 mln on acquisition -Nikkei
TOKYO, June 29 Kyocera Corporation
plans to buy Danish carbide tool maker Unimerco in a deal
reportedly worth $247.2 million, helping the Japanese
electronics firm boost its presence in Europe and bolster sales
from the automobile and aviation sectors.
Kyocera spokeswoman Chikako Morioka said the Kyoto-based
firm will make an official announcement later on Wednesday. She
declined to provide the cost of the acquisition.
"We've been trying to bolster our business presence in
Europe and make this segment a source of stable revenue,"
The Nikkei business daily said Kyocera's European
supervisory firm will buy all Unimerco shares from its founders
and others by July 11 for about 20 billion yen.
Founded in 1964, Unimerco manufactures customized carbide
tools for automobile, aircraft.
Unimerco, whose clients include Audi AG , aircraft
makers Airbus SAS and Rolls-Royce Group Plc generates
sales of roughly 10 billion yen a year, the Nikkei said.
A latecomer to carbide tools, Kyocera competes with
Mitsubishi Materials Corp , Sumitomo Electric Industries
Ltd and Tungaloy Corp, the Nikkei said.
Kyocera's shares gained 1.5 percent to 8,240 yen while the
benchmark Nikkei 225 index rose 1.2 percent.
($1 = 81.105 Japanese Yen)
(Reporting by Mariko Katsumura in Tokyo and Rachana Khanzode in
Bangalore; Editing by Edwina Gibbs)