BEI Technologies, Inc. Announces Acquisition of Newall Measurement Systems
2004年10月13日 - 5:39AM
PRニュース・ワイアー (英語)
BEI Technologies, Inc. Announces Acquisition of Newall Measurement
Systems SAN FRANCISCO, Oct. 12 /PRNewswire-FirstCall/ -- BEI
Technologies, Inc. (NASDAQ:BEIQ) is pleased to announce that it has
acquired for cash, Newall Measurement Systems, Ltd., a leading
manufacturer of proprietary products including high quality digital
readout systems (DRO) and digital linear encoders. Newall, which is
based in the United Kingdom, serves machine tool and process
automation markets in North America, Asia and Europe. "We are
excited about this acquisition because we believe the addition of
the DRO and digital linear encoder products will be a natural
extension of BEI's product portfolio. Also, there may be
significant market opportunities for Newall products with BEI's
current customers and markets," commented Charles Crocker, Chairman
and CEO. The acquisition of Newall should be accretive by the end
of the fiscal year 2005. Newall's annual revenue is in the $12
million range, and the company has been profitable over the last
several years. BEI Technologies, Inc. (the "Company" or
"Technologies") is an established manufacturer of electronic
sensors, motors, actuators, optical encoders and motion control
products used for factory and office automation, medical equipment,
military, aviation and space systems. In addition, sales to
manufacturers of transportation equipment including automobiles,
trucks and off-road equipment have become a significant addition to
the Company's business in recent years. The Company's micromachined
quartz rate sensors are being used in advanced vehicle stability
control systems and a significant increase in the production of
those sensors had been in progress from the middle of 1998 to FY
2004 except for a decrease in production in fiscal 2002 due to
increased competition. The Company is currently transitioning to
its next generation of automotive inertial quartz based sensor
products, remotely mounted multi-sensor clusters with CAN Bus and a
multi rate sensor package suitable for incorporation into
electronic systems modules. The Company also manufactures
electronic steering wheel position sensors, seat-memory modules,
throttle position sensors, inertial navigation systems, and other
devices used in transportation systems. DATASOURCE: BEI
Technologies, Inc. CONTACT: John LaBoskey, Senior Vice
President/CFO of BEI Technologies, Inc., +1-415-956-4477 Web site:
http://www.bei-tech.com/
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