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[January 2008]
Meggitt PLC Acquires Ferroperm for £10 million
Meggitt PLC (Christchurch, Dorset, England), the international aerospace, defence and performance sensors group, has acquired Ferroperm, a world leader in the manufacture of advanced piezoelectric ceramic materials for specialist sensor applications, for a cash consideration of £10 million, net of £0.8 million debt. The transaction includes a net asset adjustment mechanism and has been funded from Meggitt's existing resources.
Ferroperm, which has 54 employees, is located in Kvistgaard, Denmark and is the world leader in the manufacture of advanced piezoelectric ceramic materials for a range of specialist sensor applications, such as vibration, dynamic pressure, underwater acoustics and medical ultrasound.
Terry Twigger, Chief Executive of Meggitt, commented: "By integrating Ferroperm with our existing sensor businesses Meggitt will further enhance its ability to develop cutting edge sensor technologies for our core markets and meet the increasing demands of our customers to supply highly accurate and reliable sensors for harsh environments."
www.meggitt.com
ENDS