Hexagon acquires American measurement equipment manufacturer
2 June 2005
Hexagon has through its wholly owned US subsidiary, Sheffield Measurement Inc., acquired all assets belonging to CMM Systems, which earlier was part of a product line within Starrett Metrology Systems. The seller is the listed American company LS Starrett (NYSE: SCX).
The acquisition includes a stock of new and used CMMs including spare parts, pro-duction equipment, as well as intangible rights. The purchase price amounts to 1.5 MUSD.
Starretts product line, CMM Systems, has had an annual turnover of approx. 10 MUSD, and possesses a large installed base of CMMs in the US.
As a part of the transaction, Hexagon Metrology will offer the owners of Starrett CMMs a transfer package to Hexagons standardised software, PC-DMIS. Addition-ally, during a transitional period Hexagon will offer LS Starretts CMM customers a bundle consisting of a license, installation, training and a service agreement at a re-duced price.
Former distributors of Starrett CMMs will be offered to sell a complete program con-sisting of Sheffield products.
For further information, please contact:
Ola Rollén, President & C.E.O.
Hexagon AB
Tel: +46 8 601 26 20
Håkan Halén, C.F.O.
Hexagon AB
Tel: +46 8 601 26 20
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Hexagon AB is a multinational engineering group with the long-term ambition of positioning itself as number one or number two within its strategic sectors. The operation is divided into four business areas: Hexagon Automation, Hexagon Engineering, Hexagon Metrology and Hexagon Polymers. The group's targets are to increase earnings per share after tax by at least 15 per cent p.a., and achieve a return on capital employed higher than 15 per cent over the business cycle. Current turnover amounts to more than 9 GSEK p.a.