FAIRFIELD, N.J., Feb. 7 -- Measurement Specialties Inc. (MSI), a manufacturer of sensors and sensor-based consumer products, announced it has acquired certain assets of Polaron Components Ltd., the industrial pressure-sensing business of UK-based Polaron plc, for 1.3 million pounds sterling (approximately $2.45 million). The transaction was effective Feb. 1.
The assets were acquired by the MSI's China operation, MSI Sensors (China) Ltd., where MSI had already been manufacturing Polaron pressure products. Polaron distributed MSI products in the UK, and MSI distributed Polaron products in North America and Asia.
For the 12-month period ending Nov. 30, 2004, the acquired product lines generated approximately 1.06 million pounds (approximately $2 million) in net sales, MSI said, representing approximately $750,000 in incremental sales to MSI.
"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," said Frank Guidone, MSI's CEO. "With its foil strain gauge technology, Polaron extends our already large pressure-sensor portfolio while it further enhances our footprint in Europe."
MSI Sensors uses a variety of technologies -- including piezoresistive, electro-optic, electromagnetic, capacitive, application-specific integrated circuits (ASICs), microelectromechanical systems (MEMS), piezoelectric polymers and strain gauges -- to engineer sensors. Its consumer division produces OEM bathroom scales, Accutire tire pressure gauges and other products.
For more information, visit: www.msiusa.com