Measurement Specialties Executes Definitive Agreement to Acquire MWS Sensorik GmbH
December 14 2004 - 3:15PM
PR Newswire (US)
Measurement Specialties Executes Definitive Agreement to Acquire
MWS Sensorik GmbH FAIRFIELD, N.J., Dec. 14 /PRNewswire-FirstCall/
-- Measurement Specialties, Inc. (AMEX:MSS), a designer and
manufacturer of sensors and sensor-based consumer products,
announced today it has entered into a definitive agreement to
acquire MWS Sensorik GmbH ("MWS") for euro 900,000 (euro 650,000 at
close and euro 250,000 in deferred payments), or approximately $1.2
million. The transaction is expected to close on or before January
10, 2005, and will be effective as of January 1, 2005. "The
acquisition of MWS is another step in our effort to build a global
shock and vibration group" commented Frank Guidone, Company CEO.
"MWS has focused largely on the crash test market in Germany, and
is a nice compliment to Entran's position in France. For fiscal
2006, we expect MWS to contribute approximately $1.2 million in
sales, and more than $250,000 in operating profit, assuming
post-closing synergies." MWS (http://www.mws-sensorik.de/), based
in Pfaffenhofen, Germany, integrates and distributes accelerometers
and other sensors, sold primarily to the automotive crash test
market. MWS has historically used MSI's silicon micromachined
accelerometer as their die for piezoresistive sensors. MWS sells
its products to a wide variety of end-users, including Audi, BMW,
Mercedes and Daimler-Chrysler, among others. Peter Bay, MWS
Managing Director and principle shareholder commented "I am looking
forward to a continuing successful cooperation between our two
companies. Aside from the opportunities to leverage the China
manufacturing operation, we are excited about the prospects of
having access to the entire MSI product line." 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, motion, force, displacement, tilt, flow and distance. 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.
This release includes forward looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities and Exchange Act of 1934, as amended,
including but not limited to, statements regarding non-recurring
expenses, and resolution of pending litigation. Forward looking
statements may be identified by such words or phases "should,"
"intends," "expects," "will," "continue," "anticipate,"
"estimated," "projected," "may," "we believe," "future prospects,"
or similar expressions. The forward-looking statements above
involve a number of risks and uncertainties. Factors that might
cause actual results to differ include, but are not limited to,
success of any reorganization; ability to raise additional funds;
conditions in the general economy and in the markets served by the
Company; competitive factors, such as price pressures and the
potential emergence of rival technologies; interruptions of
suppliers' operations affecting availability of component materials
at reasonable prices; timely development and market acceptance, and
warranty performance of new products; success in integrating
acquired businesses; changes in product mix, costs and yields,
fluctuations in foreign currency exchange rates; uncertainties
related to doing business in Hong Kong and China; and the risk
factors listed from time to time in the Company's SEC reports. The
Company from time-to-time considers acquiring or disposing of
business or product lines. Forward-looking statements do not
include the impact of acquisitions or dispositions of assets, which
could affect results in the near term. Actual results may differ
materially. The Company assumes no obligation to update the
information in this issue. Company Contact: Frank Guidone, CEO, 757
766-4400 Investor Contact: Aimee Boutcher, 973 239-2878 DATASOURCE:
Measurement Specialties, Inc. CONTACT: Frank Guidone, CEO of
Measurement Specialties, Inc., +1-757-766-4400; or Aimee Boutcher
of Boutcher & Boutcher Investor Relations, +1-973-239-2878, for
Measurement Specialties, Inc. Web site: http://www.msiusa.com/
http://www.mws-sensorik.de/
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