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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