MISUMI Acquires Dayton Progress and Anchor Lamina
The acquisition supports the manufacturer’s business model of factory automation, tool and die, machine tools and electronics, since both of the product lines being purchased align themselves well with its current product offerings.
Japanese conglomerate MISUMI Group Inc. of Japan (Tokyo, Japan), a manufacturing industry leader in factory automation, tool and die, machine tools and electronics, recently announced its decision to acquire Dayton Progress Corporation (Dayton, OH) and its subsidiary, PCS Company (Fraser, MI) from Connell Limited Partnership (Boston, MA) pending certain regulatory approvals.
The acquisition also includes the Anchor Lamina Die Components business of Connell, known for its Danly, IEM, Lempco and Lamina Brands. This move supports the MISUMI business model, as the Dayton Progress and Anchor Lamina lines align themselves well with their current product offerings.
The Die Set and Fabrication divisions of Anchor Danly are not included in this acquisition, will continue to remain subsidiaries of Connell Limited Partnership and will continue as a strategic partner of the Components Division of Misumi.
“Dayton Progress Corporation and the Anchor Lamina die components business both leverage product standardization and product blanks, making their production methods highly compatible with our own,” said Masayuki Takaya, the president and co-chief executive officer of MISUMI Group. “Aside from short lead-time production regimes, Dayton Progress and the Anchor Lamina die components business also have strong technological capabilities, excellent customer service and solid customer bases in the US and Europe. They are both attractive businesses for their leading positions in the manufacture of die components in the U.S. and Europe.
“We have already established our QCT Model, which delivers high quality (Q) at low cost (C) with short delivery times (T) and no minimum quantity requirements, and built out a supply regime capable of delivering on short lead-times primarily in Japan, China and the rest of Asia,” he continued. “Bringing Dayton Progress and the Anchor Lamina die components business into our group establishes a global short delivery-time supply regime virtually overnight and should accelerate deployment of our QCT Model globally.”
“MISUMI Group is a growing, successful company that has established a supply chain which delivers low cost and short lead times in Japan, China and the rest of Asia. Ownership by them is a great thing for our company and for customers and distributors of Dayton Progress and Anchor Lamina,” said Alan Shaffer, the president and chief executive officer of Dayton Progress.
Shaffer continued, “MISUMI brings additional products, global supply chain resources and relationships with global OEMs and is a very complementary fit with Dayton and Anchor Lamina’s strength in products, service and distribution channels. We will have access to cost and short lead time production systems and expect many other product synergies from them that will create additional career opportunities for our valued employees. Dayton and Anchor Lamina bring to MISUMI products made to Western industry specifications, leading sales and service coverage in North America and Europe, plus a long history with the global automotive industry.”
Dayton Progress Corporation and Anchor Lamina are North American and European industry leaders in the manufacture of tooling and die components for stamping and forming. Dayton Progress has 10 factories in North America, Europe and Asia employing 1,000 people and shipping to 13,000 customers in 51 countries. Anchor Lamina employs over 400 people at four factories; two in the U.S. and two in China.