Siemens Announces Plan to Acquire Controlotron
Siemens Energy & Automation, Inc. has signed an Asset Purchase Agreement to acquire the assets and business of Controlotron Corp., headquartered in Hauppauge, N.Y. The company expects to close the deal in May 2006 and did not disclose terms.
Siemens is a global leader in process instrumentation and factory automation. Controlotron is a leader in non-intrusive ultrasonic flow measurement and is expected to enhance Siemens’ position in this key market segment. Siemens intends to operate the company from its Hauppauge location, which it plans to make a center of competence for ultrasonic flow measurement. Controlotron employs approximately 120 people, to whom Siemens will extend formal offers of employment one week prior to the closing.
“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 President and CEO Aubert Martin, Inc. “Controlotron is highly recognized for its advanced technology in non-intrusive flow measurement, and its strong market positions in oil and gas, water and wastewater, 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 Controlotron Corp. Sr. Vice President and COO Tony Muraco. “Additionally, I'm confident Siemens will provide Controlotron with the level of investment in employees, research and development and operations required to strengthen its global market position.”
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