Iwaki Company acquires Walchem Corporation

Iwaki Company Ltd. of Japan and Walchem Corp. of Holliston, MA are pleased to jointly announce the acquisition of Walchem by Iwaki, including the majority ownership that Walchem has in Iwaki America. The new consolidated entity, operating from its existing premises in Holliston, MA will be called Iwaki America Inc...

Sept. 15, 2008 -- Iwaki Company Ltd. of Japan and Walchem Corp. of Holliston, MA are pleased to jointly announce the acquisition of Walchem by Iwaki, including the majority ownership that Walchem has in Iwaki America. The new consolidated entity, operating from its existing premises in Holliston, MA will be called Iwaki America Inc.

Iwaki America Inc. will operate with two groups - Iwaki Pumps and Walchem Controllers. The existing sales, marketing, engineering and manufacturing organizations for Iwaki Pumps and Walchem Controllers will continue without any changes and will operate independently from each other. Both groups will report to Ron Yates, CEO and President. Rick Jewett will continue as Chairman of the new company.

The synergy between Iwaki and Walchem in the areas of advanced pump and controller technology, high quality products and superior customer service will provide a platform for accelerated growth into our target markets of thermal management, semiconductor, medical, fuel cells, chemical process, plating and water and waste water treatment.

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