Yoshio Kito News

Kito Americas, Inc. announced today that the company has entered into a stock purchase agreement to acquire Peerless Industrial Group from Westview Capital Partners II, L. P. by purchasing all the shares of Peerless Industrial Group, Inc. The share transfer of Peerless shall be executed subject to the terms and conditions in the Stock Purchase Agreement. Kito Americas, Inc. currently operates Harrington Hoists, Inc. and Kito Canada (KCI) businesses in North America and is the largest subsidiary of the Kito Corporation of Japan. Kito is listed on the Tokyo Stock exchange (TSE1) under the stock ticker 6409. Kito Americas will, by combining with Peerless, expand its product to better serve its customer segments around the world and strengthen its North American business.

Harrington Hoists, Inc., recently hosted a celebration dinner in honor of their 20th year anniversary as a wholly owned subsidiary of Kito Corporation. This relationship allowed the company, in a joint effort, to become the sole source for Harrington / Kito hoist and crane products in the United States and Mexico. Edward (Ned) Hunter, president and CEO of Harrington Hoists, Inc. presented a gift made from an original Harrington hoist dating back to the 1800’s to Yoshio Kito, President and CEO of Kito Corporation, to commemorate the 20 year union. Harrington Hoists, Inc.