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Longreach exits OCC Corp

2008-07-01
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Asian Venture Capital Journal, Japan eLetter
News
Longreach exits OCC Corp

Article reports that Longreach Group has exited its investment in OCC Corp in a trade sale, noting that NEC Corp acquired a 75% stake in the company and Sumitomo Electric Industries took a 25% holding. Longreach had acquired OCC in 2006 from the Industrial Revitalization Corporation of Japan (IRCJ). 

The article quotes an NEC spokesman as saying that OCC had sales of $165 million in the financial year ended March 2008 and is now in the black.

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