Measurement Specialties Acquires Pressure Sensing Business of Polaron Components Ltd.
02 Février 2005 - 10:15PM
PR Newswire (US)
Measurement Specialties Acquires Pressure Sensing Business of
Polaron Components Ltd. FAIRFIELD, N.J., Feb. 2
/PRNewswire-FirstCall/ -- Measurement Specialties, Inc. (AMEX:MSS),
a designer and manufacturer of sensors and sensor-based consumer
products, announced today it has acquired certain assets of the
industrial pressure sensing business of Polaron Components Ltd. in
the United Kingdom, for 1.3 million pounds sterling (approximately
$2.45 million). For the 12 month period ended November 30, 2004,
the acquired product lines generated approximately 1.06 million
pounds (approximately $2 million) in net sales. This represents
approximately $750,000 in incremental sales to MSI. The assets were
acquired by the Company's China operation, MSI Sensors (China) Ltd.
The transaction was completed today, but will be effective as of
February 1, 2005. The transaction is a vertical integration move
for the Company, as Polaron distributed MSI products in the UK and
MSI distributed Polaron products in North America and Asia. MSI had
been manufacturing Polaron pressure products in its wholly owned
subsidiary in China. "Polaron pressure is an excellent fit with our
business -- given that we have been manufacturing the product for
Polaron -- and will be immediately accretive to our bottom line,"
commented Frank Guidone, Company CEO. "With its foil strain gauge
technology, Polaron extends our already large pressure sensor
portfolio while it further enhances our footprint in Europe."
Polaron Components, Ltd. (http://www.polaron.co.uk/components), a
wholly owned subsidiary of Polaron plc, designs and distributes
pressure transducers and other sensor products. About MSI.
Measurement Specialties, Inc. designs and manufactures sensors and
sensor-based consumer products. The Sensor division, also known as
MSI Sensors, produces a wide variety of sensors and transducers to
measure precise ranges of physical characteristics such as
pressure, force, vibration, position, tilt, flow and humidity. MSI
Sensors uses multiple advanced technologies -- including
piezoresistive, electro-optic, electro-magnetic, capacitive,
application specific integrated circuits (ASICs), micro-
electromechanical systems (MEMS), piezoelectric polymers and strain
gauges -- to engineer sensors that operate precisely and cost
effectively. The Consumer division produces OEM bathroom scales,
Accutire(R) brand tire pressure gauges and other products. Company
Contact: Frank Guidone, CEO, (757) 766-4400 Investor Contact: Aimee
Boutcher or Daniel Boutcher, (973) 239-2878 DATASOURCE: Measurement
Specialties, Inc. CONTACT: Frank Guidone, CEO of Measurement
Specialties, Inc., +1-757-766-4400, or Investor Relations, Aimee
Boutcher or Daniel Boutcher, +1-973-239-2878, both of Boutcher
& Boutcher, for Measurement Specialties, Inc. Web site:
http://www.msiusa.com/ http://www.polaron.co.uk/components
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