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MoreATLANTA - Siemens Energy & Automation Inc. has signed an asset purchase agreement to acquire the assets and the business of Controlotron Corp., headquartered in Hauppauge, N.Y. The company expects to close the deal in May and did not disclose terms.
Siemens is a process instrumentation and factory automation company. Controlotron is a leader in nonintrusive ultrasonic flow measurement and is expected to enhance Siemens` position in this market segment.
"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 nonintrusive 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, senior vice president and COO, Controlotron Corp.
Publication date: 05/08/2006
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