06222018Fri
Last updateMon, 19 Mar 2018 5am

Tyco Acquires Westfire

Tyco has announced the acquisition of Westfire, Inc., a leader in special-applications fire protection services with operations in the United States, Chile and Peru. Westfire provides critical special-hazard suppression and detection applications in mining, telecommunications and other vertical markets. Their full range of fire protection services includes hazard analysis, as well as system design, installation, maintenance and testing combined with customized system documentation.

Westfire's US operations are concentrated in the Western United States and will be combined with Tyco's North American Fire Services business. Westfire's highly skilled and experienced workforce will enhance Tyco's service differentiation with added project design and execution capabilities. In Latin America, this acquisition enhances Tyco's service capabilities in the mining industry in Chile and provides an entry into the Peruvian market, both of which are important growth markets for Tyco. While already an established customer of Tyco's Fire Protection Products business, Westfire has the opportunity to further leverage this relationship to meet the requirements of Westfire's customers in mining and telecommunications.

"Westfire is a powerful addition to Tyco's capabilities. It expands our service footprint and recurring revenue base along with adding a highly-skilled and experienced team of engineers and technicians. In addition, we are adding vertical market expertise in special hazard detection and suppression applications," said Brian McDonald, Tyco's Chief Operating Officer for Installations & Services.

"This acquisition confirms Tyco's commitment to its Growth Markets," said Juan Mogollon, Tyco's President for Growth Markets. "Westfire's engineering capabilities and service footprint in Latin America combined with Tyco's comprehensive product portfolio focused on the specific needs of Growth Markets creates an exceptional combination of solutions to help our customers not just in Chile and Peru but throughout Latin America."

The transaction closed on November 8, 2013 and Westfire is expected to generate approximately $80 million in annualized revenues in fiscal year 2014.

ABOUT TYCO

Tyco (NYSE: TYC) is the world's largest pure-play fire protection and security company. Tyco provides more than three million customers around the globe with the latest fire protection and security products and services. A company with $10+ billion in revenue, Tyco has over 70,000 employees in more than 1,000 locations across 50 countries serving various end markets, including commercial, institutional, governmental, retail, industrial, energy, residential and small business. For more information, visit the new www.tyco.com.

 

 


Rotork grows into extended head office facilities

Rotork has expanded into new office, workshop and production storage facilities at its worldwide headquarters in Bath. The new building will home Rotork PLC, as well as the southern office for Rotork UK, which was set up in 2012 to rationalise all of Rotork’s home market electric, fluid power and manual valve actuation activities under a single banner. Rotork UK’s northern office, actuator and gearbox factory will be moving into larger new premises in Leeds early in 2014.

The new Bath offices also house Rotork’s systems sales department, reflecting the increased demand for Rotork’s digital control network solutions including the advanced wireless Pakscan system. Enlarged office and workshop space is also provided for Rotork Site Services, the company’s specialist retrofit, maintenance, repair and asset management organisation. Under the same roof, 872 square metres of new warehouse space has been created to give additional support to burgeoning production at the main electric actuator manufacturing plant, where IQ3, IQT and CVA actuators are built.

The new facilities have freed up space in Rotork’s original head office building, facilitating expansion of international sales, marketing, engineering, research & development and business development departments, positioning Rotork for continued growth in Bath for the foreseeable future.

Endress+Hauser prepares offer for Analytik Jena

As of 26 September 2013 Endress+Hauser holds 47.33 percent of shares in German-based Analytik Jena AG, 22.99 percent directly and 24.34 percent indirectly. Accordingly, the Group is preparing a mandatory offer to the company's shareholders.

Following last Thursday's clearance from the German Federal Cartel Office, Endress+Hauser (Deutschland) AG+Co. KG is able to acquire the shares originally held by the Netherlands-based Verder Group, along with unsubscribed shares from the recent increase of capital stock. "Accordingly, we yesterday published the fact of having gained control over Analytik Jena, together with our decision to issue a mandatory offer," stated Dr Heiner Zehntner of the Endress+Hauser Group's Executive Board.

The offer price of 13.75 euros per share lies above prices paid by Endress+Hauser for stakes in Analytik Jena during the period leading up to the offer. "We consider this to be a fair and just offer in light of the company's present position and future prospects," added Dr Luc Schultheiss, CFO of the Endress+Hauser Group.

The government of Thuringia, a German federal state, and Klaus Berka, founder and CEO of Analytik Jena, both welcomed Endress+Hauser's increased holding. The Free State of Thuringia currently owns 17.79 percent of Analytik Jena via a fund managed by bm-t, an investment company; Klaus Berka holds 9.93 percent of the company. At a later date both shareholders will negotiate on selling their respective tranches. Discussion will focus on the company's future direction and its integration with the Endress+Hauser Group.

Klaus Berka signalized his desire for involvement with this process, subject to extension of his contract by the supervisory board of Analytik Jena. "We are pleased that Mr Berka has agreed to stay on as CEO and continue running the company after its acquisition by Endress+Hauser," stated Klaus Endress, CEO of the Endress+Hauser Group.

Analytik Jena to remain independent:

Endress+Hauser is expressly committed to the Jena location. "We want Analytik Jena to remain an independent company," emphasized Klaus Endress. Already a leading provider of process instrumentation, with this acquisition the family-owned business aims to develop a presence in laboratory analysis, too. Analytik Jena is active in classical analytical instrumentation as well as in biotechnology and molecular diagnostics.

Endress+Hauser will be strengthening and extending Analytik Jena's worldwide sales to the laboratory sector. Klaus Endress also sees promising potential applications for laboratory instrumentation technology in process instrumentation, and vice versa. "Looking ahead, we will be present with our instrumentation from laboratories, through pilot plants, to industrial production," said the Group's CEO. "Both companies stand to profit from this."

ABB completes acquisition of Los Gatos Research

ABB, a global leader in electric power and automation, today completed its acquisition of Los Gatos Research (LGR) of Mountain View, California. The acquisition, announced May 2, adds a new line of high-performance gas analyzers to ABB’s leading measurement products business.

LGR (www.lgrinc.com), a 19-year-old, 40-person company provides analyzers and services to a wide range of customers needing real-time measurement of trace gases and isotopes for research and environmental monitoring. Its novel and innovative laser-based measurement strategies allow for non-destructive analysis of gases and liquids.

The acquisition complements ABB’s existing measurement technology portfolio with a number of new solutions for industrial customers in oil & gas production and transportation, combustion, emissions, power generation and environmental monitoring. LGR can now better serve its customers and further expand its business in the environmental, scientific and industrial markets.

LGR’s employees will join the global Measurement Products business unit in ABB’s Process Automation Division. Terms of the deal were not disclosed.

ABB's Measurement Products business unit (www.abb.com/measurement) is among the world's leading manufacturers and suppliers of instrumentation and analyzers. With thousands of experts around the world and high-performance technology, ABB's team is dedicated to making measurement easy for its customers.

Ulrich Spiesshofer takes over as ABB’s new Chief Executive Officer

Ulrich Spiesshofer has succeeded Joe Hogan as chief executive officer of ABB, the leading power and automation technology group, following the three-month orderly transition period announced earlier this year. Hogan will continue as advisor to the Board until the end of March 2014.

In a welcoming statement, Hubertus von Grünberg, Chairman of ABB’s Board of Directors, said: "Ulrich Spiesshofer has an outstanding track record forming and developing high performing teams and has demonstrated excellent strategy and execution skills.” He added that Spiesshofer enjoys the full support of the entire Board. “We look forward to a close cooperation with Ulrich to further develop ABB's power and automation business under his leadership.”

ABB announced Spiesshofer’s appointment as CEO on June 17. For further information on his background and career, please refer to the June press release.

"I look forward to working with ABB’s strong team to deliver continued profitable growth against our strategy and create long-term value for our customers, employees and shareholders," Spiesshofer said. “In these challenging economic times, we will focus as a team relentlessly on customer satisfaction, quality and execution.”

Brief Profile of Ulrich Spiesshofer:

Born March 26, 1964 – German citizen

Education

1991   PhD in Economics, University of Stuttgart, Germany

1989   Masters Degree in Business Administration and Engineering, University of Stuttgart, Germany

Professional experience:

ABB   2013 to date   CEO of ABB Group worldwide – ABB Ltd, Switzerland

2010 – 2013   Head of Discrete Automation and Motion division Member of the Group Executive Committee, ABB Ltd, Switzerland

2005 – 2009   Head of Corporate Development Member of the Group Executive Committee, ABB Ltd, Switzerland Roland Berger Strategy Consultants

2002 – 2005   Senior Partner, Global Head Operations Practice – Roland Berger AG, Switzerland A.T. Kearney

2001 – 2002   Managing Director – A.T. Kearney International AG, Switzerland, Member European Operating Committee

1999 – 2001   Leader Asian Operations Practice – A.T. Kearney Pty. Ltd., Australia

1996 – 1999   Member Australian Leadership Team – A.T. Kearney Pty. Ltd., Australia

1991 – 1996   Associate/Manager/Principal – A.T. Kearney GmbH, Germany Teaching

1989 – 1992  Lecturer in business management, University of Stuttgart and Berufsakademie, Stuttgart, Germany