Jervis B. Webb Announces Sale of Company to Daifuku Co., Ltd.

    FARMINGTON HILLS, MI, Nov. 14 /CNW/ - Jervis B. Webb Company ("Webb") of
Farmington Hills, Mich., U.S.A., - a world leader in material handling
solutions - has announced an agreement with Daifuku Co., Ltd. (TSE: 6383),
headquartered in Osaka, Japan, ("Daifuku") for the sale of 100 percent of the
outstanding shares of Webb to Daifuku. The transaction is expected to be
completed in December, pending final government authorizations and approvals.
    Through the acquisition of Webb, Daifuku is accelerating the expansion
and strengthening of its overseas business, an important goal in its
three-year business plan launched in April 2007.
    "The complementary and supportive cultures of Daifuku and Webb will
strengthen operations for both companies and help us grow internationally,"
said Katsumi Takeuchi, president and CEO of Daifuku. "Daifuku has built its
business with the idea that production and procurement should be near its
customers, and the Webb acquisition further supports this goal."
    Daifuku will position Webb as a new core business within the Daifuku
group. Daifuku Executive Vice-President Masaki Hojo will act as the chairman
and co-CEO of Webb, along with Susan M. Webb, the company's current president
and CEO and granddaughter of founder Jervis B. Webb.
    Daifuku and Webb have little overlap in the customers they serve and in
the products they offer. Both companies are material handling systems
manufacturers and have enjoyed a long-term technological partnership since
1957. Webb also brings many unique strengths, including its well-known
reputation in the United States, a wealth of labor resources in North America
and offshore, and strong customer relationships. After the acquisition,
Daifuku plans to expand its business and improve performance by effectively
utilizing the management resources of the two companies.
    Founded in 1919, Webb is recognized as a global leader in material
handling systems. The company played an important role in developing the
rivetless chain conveyor to move automobile bodies through the assembly and
finishing process. This single product revolutionized industrial production
after Ford Motor Company founder Henry Ford first implemented the technology
in the early 1920s. Chain conveyors still remain one of Webb's leading
products today. In addition, Webb now provides airport baggage handling
systems, automatic guided vehicles, automated storage and retrieval systems
and other products for the automotive, manufacturing, production and air
transportation industries.
    "The acquisition of Webb by Daifuku will allow us to continue to pursue
strong growth, both domestically and internationally, while maintaining our
current operating structure and management team," said Ms. Webb. "Webb has
built an excellent reputation over almost 90 years, and we are committed to
continuing that legacy."

    About Daifuku Co., Ltd.

    For 70 years, Daifuku, a public company traded on the Tokyo Stock
Exchange and headquartered in Osaka, Japan, has focused on material handling -
the movement of finished goods and work-in-progress. Daifuku's world-class
systems lead the industry by combining conveying, storage, sorting, picking
and controls in a global capacity. Daifuku's products serve customers in a
range of industries and countries, with non-Japanese sales accounting for
50 percent of its total sales, by developing unique, cutting-edge systems for
each customer. Daifuku assists customers from planning to proposal, design,
manufacturing, installation, after-sales service and facility retrofits.

    About Jervis B. Webb Company

    Jervis B. Webb Company is a world leader in developing innovative
material handling technology and systems. The privately owned corporation
specializes in the design, engineering, installation and support of integrated
systems used in the automotive, airport, beverage, warehousing and
manufacturing industries. Webb is headquartered in Farmington Hills, Mich.,
with manufacturing locations in Harbor Springs and Boyne City, Mich.;
Carlisle, S.C.; Canada; India; and China.

For further information:

For further information: Sarah Carlson, (248) 553-1000 ext. 1311

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