Hitachi Cable to Acquire Austrian Probe Cable Maker

Hitachi Cable announced on Tuesday the firm acquires 70% shares in Astral Meditech GmbH, Austrian maker of medical probe cables, in mid June, 2008 and makes it a new subsidiary. Hitachi Cable’s consolidated sales of medical probe cables are expected to increase to approximately 7 billion yen in fiscal 2008 started April from estimated 4 billion yen in fiscal 2007. Hitachi Cable aims to expand the annual sales to 10 billion yen in fiscal 2010 with the top share at more than 40% in the global market.Hitachi Cable and Astral Meditech produce and sell probe cables for ultrasonic equipment.Astral Meditech is headed in Traun, Austria with its R&D site while operates a productive subsidiary, Akutron LLC, which is located in Kiev, Ukraine. Astral Meditech purchases probe cables from the third makers, including Hitachi Cable, and assembles the cables with related parts.Hitachi Cable totally produces probe cables from ultra-thin coaxial cables, which are used as conductors, to the final assembly. Hitachi Cable currently holds 20% shares in the global probe cable market, next to Tyco Electronics. The production sites are located in Hitachi City, Ibaraki, Japan and Suzhou, China.By the acquisition, Hitachi Cable will obtain an influential R&D and production sites in Europe where worldwide medical equipment makers are located. At the same time, Hitachi Cable aims to utilize a new business site in Austria as a sales office for the group products as well as probe cables.