APW Announces Two Acquisitions.MILWAUKEE--(BUSINESS WIRE)--June 4, 1999-- Applied Power Inc. (NYSE NYSE See: New York Stock Exchange :APW APW All Pro Wrestling APW Altmar Parish Williamstown (School District; Parish, New York) APW Add-Printer Wizard (Microsoft Windows) APW Augmented Plane Wave APW Apparent Polar Wander ) announced today that it has completed the acquisitions of two separate companies. The first transaction includes the purchase of shares of Ergun Kriko San Ticaret ("Ergun"), located in Akhisar, Turkey. Ergun, now part of the APW Industrial business segment, occupies a new facility of approximately 4,000 meters and employs 50 people. The company specializes in the manufacture of hydraulic cab-tilting systems and hydraulic bottle jacks, and currently serves the Turkish truck market. Ergun is strongly vertically integrated, using modern CNC (Computerized Numerical Control) See numerical control. CNC - Collaborative Networked Communication manufacturing techniques adding to the current cab-tilting production capabilities of Engineered Solutions Europe. The company serves as a leading supplier to global companies such as; Mercedes, MAN, Ford-Otosan and BMC (BMC Software, Inc., Houston, TX, www.bmc.com) A leading supplier of software that supports and improves the availability, performance, and recovery of applications in complex computing environments. in Turkey. In the second transaction, the APW Electronics business segment acquired certain assets of Connector Technology, Inc. ("CTI (Computer Telephone Integration) Combining data with voice systems in order to enhance telephone services. For example, automatic number identification (ANI) allows a caller's records to be retrieved from the database while the call is routed to the appropriate party. ") of Anaheim California. CTI is a manufacturer of customized backplanes, and will be integrated with APW Electronic Solutions, a unit of APW Electronics. Electronic Solutions offers a comprehensive range of fully integrated standard and custom electronic racks, enclosures, card cages, backplanes and related components for VMEbus, VME (Virtual Machine Environment) An operating system from Fujitsu Services (formerly ICL) that runs on its Series 39 mainframes. Introduced in 1975, VME is a comprehensive product that provides a variety of utilities for datacenter operations. 64 Extensions, CompactPCI, VXI (VME EXtensions for Instrumentation) A peripheral bus specialized for data acquisition and real time control systems. Introduced in 1987, VXI uses all Eurocard form factors and adds trigger lines, a local bus and other functions suited for measurement applications. , PXI (PCI EXtensions for Instrumentation) A peripheral bus specialized for data acquisition and real time control systems. Introduced in 1997, PXI uses the CompactPCI 3U and 6U form factors and adds trigger lines, a local bus and other functions suited for measurement and ISAbus and other Eurocard based systems. CTI's full range of custom and standard VME, VXI and CompactPCI backplane assemblies and front-end design support enhance products and services for North American customers and complement Electronic Solutions' backplane design and manufacturing capabilities in the UK. The total purchase price of the two transactions approximated $4.5 million with expected annual sales of approximately $5 million, and both are expected to be slightly accretive to earnings in the first year of ownership by APW. The expected sales and earnings forecasts mentioned above contain forward-looking statements made pursuant to the provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Management cautions that these projections are subject to risks and uncertainties as described in the Company's 1998 Annual Report on Form 10-K. Applied Power Inc., headquartered in Butler, Wisconsin, is a global company comprised of two business segments. APW Electronics supplies electronic enclosures, power supplies, thermal systems, backplanes, and cabling either as products or integrated as a system supplied along with new product design, supply chain management, assembly and test services. APW Industrial is composed of standard and customized OEM products sold to a wide array of end users through distribution or directly into a variety of niche markets. For further information contact: Applied Power Inc. Robert C. Arzbaecher Senior Vice President and Chief Financial Officer 414-783-9279 To receive a faxed copy of this or other recent Applied Power communications, please call the Company's "News on Demand" service at 1-800-549-0679. |
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