euro adhoc: Jetter AG
Mergers - Acquisitions - Takeovers
Jetter announces
the acquisition of Control Developments - adhoc announcement under § 15 WpHG
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
04.02.2008
Ludwigsburg, 04 February 2008. Jetter AG (ISIN: DE0006264005), the German Ludwigsburg-based manufacturer of industrial controllers, acquires, with effect of 01 January 2008, Oxford-based Control Developments (U.K.) Ltd., who in 2007 realised sales of 1,4 MGBP, employing eight people. The purchase prize is to remain confidential. Control Developments develops and sells electro-hydraulic control systems for mobile automation. Its biggest customer is Johnston Sweepers Ltd., a manufacturer of municipal vehicles. Johnston Sweepers is part of the Swiss group Bucher Industries AG, who also holds shares in Jetter. Control Developments´ excellent knowledge of the control of hydraulic systems ideally complements Jetter´s know-how and product portfolio in the mobile automation sector, with emphasis on operation and connectivity. With this acquisition, Jetter markedly strengthens its mobile automation sector. Jetter expects a solid growth for this segment over the next years, i.a. through a projected intensification of the co-operation with Bucher. Control Developments will change its name to Jetter UK Ltd. and will be transformed into an R&D centre for mobile automation. Manufacturing and administration will in the mean term move to Ludwigsburg. Jetter´s global sales network will provide further growth potential for this product segment. Jetter is a leading supplier of control systems for industrial and mobile automation. Apart from the parent company, there is a German subsidiary in Tettnang as well as subsidiaries in USA, Singapore, Italy and Switzerland. Its 191 employees generated sales of 36 MEUR in 2006/07.
end of announcement euro adhoc
Further inquiry note:
Günter Eckert
Tel +49 7141 2550-514
geckert@jetter.de
Branche: Semiconductors & active components
ISIN: DE0006264005
WKN: 626400
Index: CDAX, Prime All Share, Technologie All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade