Subj: Maxwell Technologies Announces Strategic Acquisition in...
Date: 98-03-25 19:52:54 EST
From: AOL News
BCC: JerryCo
Maxwell Technologies Announces Strategic Acquisition in Europe
SAN DIEGO--(BUSINESS WIRE)--March 25, 1998--Maxwell Technologies Inc. (NMS-MXWL) Wednesday announced that it has acquired Tri-MAP International Ltd., a leading United Kingdom-based manufacturer of industrial-grade PC-compatible computer systems, in a 100 percent stock transaction valued at approximately $8 million.
"The acquisition of Tri-MAP is a key first step in implementing our strategic plan for positioning the company to penetrate markets and sell products on a global basis," said Kenneth F. Potashner, chairman and chief executive officer of Maxwell. "Tri-MAP will add significantly to the product line of I-Bus, resulting in a combined product offering that will provide major OEMs with a seamless range of computer systems, from low-cost, entry-level platforms to the most powerful fault-tolerant Intel offerings available in the industry today. We view this new capability as instrumental in positioning I-Bus to become a recognized international leader in the engineering and production of industrial computers for the OEM market."
Said John Werderman, president of I-Bus, "The addition of Tri-MAP's technologies and experience substantially enhances I-Bus' already extensive range of products and rapidly growing reputation in the OEM marketplace. Moreover, Tri-MAP's presence in the European community marks a significant step in our effort to expand a promising international customer base."
"From a broader perspective," added Potashner, "we are executing on our acquisition strategy that will enable us to globalize our product portfolio and add more value to our customer base. The Tri-MAP acquisition provides a channel for our products into Europe and will also be used to leverage the other Maxwell businesses' initial thrust into Europe. We expect to begin to achieve cross- business opportunities as the various Maxwell operations continue to build a global customer base."
Maxwell Technologies is a leader in pulsed power technologies, providing pulsed power based systems and components for a wide range of commercial applications and research and development for both commercial customers and the U.S. government. The company's advanced technology solutions address diverse markets such as utilities, telecommunications, medical equipment and products, food processing and packaging and transportation. The company also offers industrial computers and subsystems, primarily to OEMs in computer telephony and other markets, and software products and services, both for government research and for various commercial applications.
Except for historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties, including product development based on new technologies, applications and acceptance of new products in major markets, demand for the OEM's product reaching anticipated levels, the impact of competitive products and pricing, the successful integration of acquired businesses, risks and uncertainties involved in foreign operations, and other risks detailed from time-to-time in the company's SEC reports, including the report on Form 10-K for the year ended July 31, 1997. Actual results may differ materially from those projected.
These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent or obligation to update these forward-looking statements.
CONTACT:
Maxwell Technologies
Tracy Perry, 619/576-7547
URL maxwell.com
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Date: 98-03-25 19:52:54 EST
From: AOL News
BCC: JerryCo |
