NDT.net April 2005, Vol. 10 No.04

Notice Concerning Acquisition of Shares of R/D Tech Inc.

March 18, 2005 - - Olympus Corporation has reached agreement with shareholders of R/D Tech Inc. (Quebec, Canada) with respect to the acquisition of 100% of the outstanding shares of R/D Tech Inc. through its wholly owned subsidiary, Olympus NDT Canada Inc. (Quebec, Canada) for a total of approximately 117million Canadian dollars.
Following approval by the authorities, R/D Tech Inc. will become a subsidiary of Olympus Corporation. Under the price adjustment clause in the share purchase agreement, final adjustment will be made after the completion of the transaction. The details are as follows.

Details

1. Reasons for Share Acquisition

R/D Tech Inc. is a major manufacturer of non-destructive testing (NDT) equipment and possesses advanced technology in the areas of ultrasound defect detection and eddy current defect detection. It has gained a reputation as the world’s top brand in the NDT field by using leading-edge technology to supply NDT equipment that combines reliability with economy. R/D Tech Inc. products are widely used for inspection and diagnosis in a wide range of situations, especially petrochemical plants, aircraft and industrial facilities.

As a major manufacturer of industrial endoscopes, Olympus contributes to the safety of social infrastructure through the use of its products in the maintenance and inspection of a wide range of industrial facilities. By combining R/D Tech’s ultrasound and eddy current defect technology with its own visual inspection technology within the Olympus Group, Olympus will be able to provide its customers with optimal and comprehensive NDT and diagnosis solutions. By integrating the advanced technologies of Olympus and R/D Tech, it will also be possible to create new value in the maintenance and inspection field.

2. Overview of R/D Tech Inc. (as of October 31, 2004)

(1) Trading name: R/D Tech Inc.
(2) Representative: Alain Allard
(3) Address: 505, boul. du Parc-Technologique, Québec (QC) G1P 4S9, Canada
(4) Establishment year: 1989
(5) Net Sales: CN$ 88,046 (October 2004 ,unit: 1,000 )
(6) Principal activities: Development, manufacture and sales of non-destructive testing equipment
(7) End of accounting period: October 31
(8) Employees: 550

Olympus Corporation: www.olympus.co.jp

NDT.net Exhibition: R/D Tech

Note: The company names and product names specified in this release are the trademarks or registered trademarks of each company.


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