TOKYO-Olympus Corp., a manufacturer of digital cameras, medical endoscopes and industrial scopes, announces its plans to buy R/D Tech Inc., a Canadian-based manufacturer of nondestructive testing equipment. The acquisition is estimated at $97 million.
R/D Tech's product line includes ultrasonic- and eddy-current-based testing equipment. Olympus hopes the acquisition will add to its place in the nondestructive testing equipment market. R/D Tech reported $88.05 million Canadian in sales for the business year ending in October 2004. The acquisition is expected to be complete later this month.