Applied Power Inc. announces acquisition by its Enerpac Division.MILWAUKEE--(BUSINESS WIRE)--Oct. 26, 1995--Applied Power Inc. (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 - NYSE NYSE See: New York Stock Exchange ) announced today that its Enerpac division has acquired the assets of Designed Fluid-Air Systems, Inc. (DFAS DFAS Defense Finance & Accounting Service (US DoD) DFAS Decorative and Fine Arts Society (The Hague, Holland) DFAS Dark Field Alignment System DFAS Department of Fisheries and Aquatic Sciences ) in a transaction valued at approximately $1.0 million. A significant portion of the consideration is contingent on Adj. 1. contingent on - determined by conditions or circumstances that follow; "arms sales contingent on the approval of congress" contingent upon, dependant on, dependant upon, dependent on, dependent upon, depending on, contingent the future performance of DFAS. DFAS, located in Oswego, Illinois For other uses, see Oswego (disambiguation). Oswego is a village in Kendall County, Illinois, United States. As of the 2005 census, the village population was 23,089. Its population has nearly doubled since 2000, as the Chicago suburbs expanded westward into the area. , designs, fabricates and assembles customized quick die change systems utilizing hydraulic, pneumatic and electrical components. Its systems increase the speed and production capacity on new and existing press lines. Major markets include automotive manufacturing and metalforming. DFAS reported sales of $2.3 million for its most recently completed fiscal year. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Robert G. Deuster, President of Enerpac, DFAS will provide Enerpac the capability to create total turnkey systems A complete system of hardware and software delivered to the customer ready-to-run. In other words, just "turn the key" and go.  A Turnkey Video System for quick die change. "The addition of DFAS' products will establish Enerpac as a leader in in-press productivity, providing a global service to our customers through the worldwide Enerpac network. DFAS is a logical extension to our quick die change product line and, through its president, Richard Schnell, has established a reputation in the press industry as a supplier of engineered turnkey systems." Applied Power is a world leader in industrial motion and position control applications and a pioneer in the marriage of hydraulic and vibration technologies with electronics. The Company is comprised of three business segments. Engineered Solutions, which includes the Power-Packer, APITECH and Barry Controls businesses, serves the automotive, truck, mobile equipment, marine, medical equipment, defense and aerospace markets. Distributed Products, consisting of Enerpac and GB Electrical, distributes a wide variety of high pressure hydraulic products and electrical tools and consumables worldwide. Wright Line provides technical furniture solutions for offices and laboratories. CONTACT: Applied Power Inc., Milwaukee Robert C. Arzbaecher, Vice President & Chief Financial Officer, 414/781-6600 |
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