• Agreement to purchase Hauppauge, NY, company would enhance Siemens' position in process instrument business.
ATLANTA, April 11, 2006--Siemens Energy & Automation, Inc. today announced it has signed an Asset Purchase Agreement to acquire the assets and the business of Controlotron Corp., with headquarters in Hauppauge, N.Y. The company expects to close the deal in May 2006 and did not disclose terms.
Siemens is a global leader in process instrumentation and factory automation. Controlotron is a leader in non-intrusive ultrasonic flow measurement and is expected to enhance Siemens' position in this key market segment. Siemens intends to operate the company from its Hauppauge location, which it plans to make a center of competence for ultrasonic flow measurement. Controlotron employs approximately 120 people, to whom Siemens will extend formal offers of employment one week prior to the closing.
"The purchase of Controlotron will strengthen Siemens' portfolio and broaden its presence in the process instrumentation market," said Aubert Martin, President and CEO, Siemens Energy & Automation, Inc. "Controlotron is highly recognized for its advanced technology in non-intrusive flow measurement, and its strong market positions in oil and gas, water and waste water, HVAC, energy and pipeline applications. A combined portfolio of Siemens and Controlotron products, services and solutions represents a robust and complementary offering to our customers."
"Access to Siemens worldwide distribution channel and the combined product portfolio will support an aggressive growth strategy and further penetration into both existing and new markets," said Tony Muraco, Sr. Vice President and COO, Controlotron Corp. "Additionally, I'm confident Siemens will provide Controlotron with the level of investment in employees, research and development and operations required to strengthen its global market position."
Controlotron Corp. (www.controlotron.com), founded by Joe Baumoel, has more than 40 years of experience providing liquid and gas flow measurement solutions for a multitude of industries. Controlotron has the largest installed base of ultrasonic flow meters worldwide.
Siemens Energy & Automation Inc. (www.sea.siemens.com) is one of Siemens' U.S. operating companies. With headquarters in the Atlanta suburb of Alpharetta, GA, it manufactures and markets one of the world's broadest ranges of electrical and electronic products, systems and services to industrial and construction market customers. Its technologies range from circuit protection and energy management systems to process control, industrial software and totally integrated automation solutions. The company also has expertise in systems integration, technical services and turnkey industrial systems.
Siemens AG (www.usa.siemens.com) is one of the largest global electronics and engineering companies with reported worldwide sales of $96 billion in fiscal 2005. Founded nearly 160 years ago, the company is a leader in the areas of Medical, Power, Automation and Control, Transportation, Information and Communications, Lighting, Building Technologies, Water Technologies and Services and Home Appliances. With its U.S. corporate headquarters in New York City, Siemens in the USA has sales of $18.8 billion and employs 70,000 people throughout all 50 states and Puerto Rico. Eleven of Siemens' worldwide businesses are based in the United States. With its global headquarters in Munich, Siemens AG and its subsidiaries employ 460,000 people in 190 countries.
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