Date: 2016-08-12

Morito Acquires Scovill Fasteners, Expands U.S. Operations

Morito Co., Ltd., a leading global supplier of apparel fasteners, components for automobiles and cameras, and other niche manufactured products, today announced the acquisition of Scovill Fasteners. Morito’s President, Takaki Ichitsubo, said, “Scovill Fasteners is an important part our global growth strategy, and will be a strong asset in positioning Morito for the future.”

Scovill Fasteners develops and manufactures a diverse range of high-performance fasteners for various apparel and industrial markets that produce items such as clothing, sporting goods, boating products and military equipment. Through a focus on continuous improvement, customer experience and global collaboration, Scovill provides the highest level of service from fastener design and delivery to application.

Founded in 1908, Morito is based in Osaka, Japan and is listed on the Tokyo Stock Exchange. Morito is the world’s second-largest supplier of metal clothing fasteners. Morito’s emphasis on product quality and safety throughout the production process ensures that customer satisfaction is met by the highest product standards.

“The leadership skills that the current Scovill management team has demonstrated in transitioning to a best-in-class organization will bring new perspective to help drive the Morito growth strategy as well as the overall organization,” stated Mr. Ichitsubo. “This acquisition is critical to accelerating our strategy of expanding our revenue base and market position outside of Japan. It brings strong benefits to both Morito and Scovill Fasteners, as well as customers and suppliers.”

Craig Stoudt, CEO of Scovill Fasteners, said, “The significant improvements made across all functional areas of Scovill’s business and our continued focus on building a culture of excellence have brought our performance to a new level. We are committed to continuing to exceed the expectations of our customers, suppliers, employees and other key stakeholders. Our organization is excited about our future with Morito.”

Scovill Fasteners will operate as a subsidiary of Morito.

GCA Savvian provided advice to Morito in connection with the transaction.

Previous: GM expands use of Freudenberg seal in engines
Next: Der Artikel single row cylindrical roller bearings are separable bearings for sale

Hot Products:

Product Model	Inside Diameter	Outside Diameter	Thickness
23172BK+AH3172 NTN	340		229
24072BK30+AH24072H NTN	340		206

【TradeBearings News Statement】

1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"TradeBearings".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.