Following the approval of the transaction by the regulatory authorities IHI Corporation has acquired 100% of the shares of Ionbond from its former shareholders as of December 28, 2012.
“We are excited about Ionbond becoming a member of IHI Corporation. Since we have started the negotiations with the former shareholders we have seen a lot of exciting and state of the art technology and applications which fit perfectly to the IHI strategy to extend the market offering in surface treatments.” says Yoshinori Kawasaki, the designated Chairman of the Board of IHI Ionbond AG. “With Ionbond and Hauzer Techno Coatings, IHI owns two world class companies with complementing offerings for the competitive market place where we want to gain a bigger share.”
Ionbond’s current executive management team will remain with the company. Joe Haggerty, CEO of Ionbond says, “This is a great opportunity for our company given the scale of IHI and their commitment to high technology leadership. IHI products will benefit from Ionbond’s PVD, PACVD, and CVD technology and Ionbond will benefit from IHI’s relationships with key customers and its strength in research & development.” Ionbond’s management and senior IHI personnel will move into a new headquarters in Zürich during the third quarter of 2013.