Acquisition to expand solenoid valve range
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Norgren product story
Edited by the Engineeringtalk editorial team
Jul 6, 2004
Fluid Automation Systems (FAS) is to be acquired by the international engineering business IMI, and will become a part of the global Norgren group.
Fluid Automation Systems (FAS) is to be acquired by the international engineering business IMI, and will become a part of the global Norgren group.
FAS is a high-technology Swiss company specialising in miniature solenoid valve technology.
Norgren is a leading supplier of motion and fluid control solutions and is the largest subsidiary within the GBP 1.6 billion IMI group.
Operating from two sites near Geneva and employing a total of 263 people, of which 45 are engineers, FAS has invested heavily in research and development.
This investment has seen the company earn a strong reputation for technological innovation, especially in the area of customised solutions.
Benefiting from sustained organic growth and with a turnover of GBP 23.1 million in 2003, FAS has a well-established European user base including customers in the medical, printing, semiconductor, textile, sanitary, instrumentation and beverage machinery sectors.
These sectors are well aligned with Norgren's markets and offer many excellent collaborative opportunities for development and growth.
FAS is focused particularly on the fast-growing miniature solenoid valve market, with the majority of its existing sales serving 10 and 15mm size applications.
This represents a good fit with Norgren's existing solenoid valve capabilities, complementing the larger sizes offered by its established Webber, Buschjost and KIP ranges (22 to 30mm and larger).
Both companies share a common vision of creating competitive advantage for customers through a close understanding of their business needs and processes, and the development of inventive application-specific solutions.
Freddy Sarfati and Peter Merz, joint MDs and cofounders of FAS said: " This is a very welcome and positive move that will secure a strong future for FAS and provide many excellent opportunities for sustained growth".
"We are absolutely convinced that Norgren will bring the right depth of understanding, proven track record and clear strategy - as well as all the advantages of a truly global sales and service organisation backed by the financial strength of IMI".
Sean Toomes, Norgren's VP of International Marketing, said: "We recognise and value very highly FAS's reputation and proven expertise in miniature solenoid valve technology, combined with their innovative and pioneering enterprise culture".
"There is an excellent fit between our two companies' common customers, target market sectors and product ranges which will create a powerful new partnership".
The acquisition is subject to regulatory approval.
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