LIXIL acquiring ASD Americas Holding Corp.
August 7, 2013
LIXIL Corporation has reached an agreement to acquire 100 per cent of the share capital of ASD Americas Holding Corp. (the parent company of American Standard Brands). The company will remain headquartered in the U.S. and continue operating all existing facilities. Yoshiaki Fujimori, president of LIXIL Corporation, said American Standard has a longstanding history as the leader in the kitchen and bath products market. “American Standard will serve as a key platform for LIXIL as we continue to fulfill our ambitions to become a worldwide leader in the building materials and housing equipment market,” he said. LIXIL already owns the American Standard brand in the Asia Pacific market, Fujimori said, and this transaction will strengthen the brand and the company’s manufacturing capabilities and technological best practices. “This transaction marks an exciting chapter in our 137-year history,” said Jay Gould, American Standard Brands president and CEO. “We and our customers will surely benefit by combining LIXIL’s quality control, manufacturing technology and product development with American Standard’s sales networks, and I believe these will help the company maintain our position as a market leader.”