Badger Meter Acquires French Automotive Lubrication Systems Supplier.Business Editors MILWAUKEE--(BUSINESS WIRE)--June 4, 2002 Badger badger, name for several related members of the weasel family. Most badgers are large, nocturnal, burrowing animals, with broad, heavy bodies, long snouts, large, sharp claws, and long, grizzled fur. Meter, Inc. (AMEX AMEX See: American Stock Exchange : BMI BMI body mass index. BMI abbr. body mass index Body mass index (BMI) A measurement that has replaced weight as the preferred determinant of obesity. ) today announced it has completed the acquisition of SA MecaPlus Equipments (MPE MPE abbr. Master of Public Education ) of Nancy, France. Terms of the cash transaction were not disclosed. MPE is the largest supplier of lubrication lubrication, introduction of a substance between the contact surfaces of moving parts to reduce friction and to dissipate heat. A lubricant may be oil, grease, graphite, or any substance—gas, liquid, semisolid, or solid—that permits free action of systems in France and one of Badger Meter's largest customers for automotive fluid meters and metering systems. MPE purchases lubrication meters, oil tanks, hoses, reels and other equipment and assembles them into lubrication systems for use in measuring and dispensing dispensing provision of drugs or medicines as set out properly on a lawful prescription. A prescription can only be filled, the drugs supplied, by a registered pharmacist, veterinarian, dentist or member of the medical profession. automotive fluids such as oil, grease grease, mixture of lubricant and thickener. It is used to reduce friction between surfaces from which oils would leak away or cause damage by dripping, or where lubrication must be assured for extended periods. Many greases are mixtures of mineral oil and soap. and transmission fluid. MPE had sales of approximately $14 million in its latest fiscal year. "The acquisition will bring Badger Meter closer to our European automotive customers and enable us to offer a full line of lubrication systems in addition to the metering products we currently provide. It will also enable MPE to expand through Badger Meter's established international sales organization and distribution channels in Europe," said Richard A. Meeusen, president and chief executive officer of Badger Meter. Meeusen said Jacques Masson, president of MPE, and his management team will remain with the company. "The acquisition is a positive step for both companies. It will provide growth opportunities for MPE while at the same time strengthening Badger Meter's product line for the automotive fluid market. We look forward to joining the Badger Meter organization," said Masson, who founded MPE in 1993. Added Meeusen, "This is the second acquisition for Badger Meter in 2002. Both acquisitions expand existing product lines for industrial customers in solid niche markets A niche market also known as a target market is a focused, targetable portion (subset) of a market sector. By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. ." Badger Meter is a leading marketer and manufacturer of flow measurement and control technology, developed both internally and with other technology companies, as well as the leader in providing digital connectivity to leading AMR (1) (Adaptive Multi-Rate) A variable rate speech codec selected by the 3GPP for the 3G evolution of the GSM cellphone system (WCDMA). Using the Algebraic CELP (ACELP) compression technology, AMR provides toll quality sound at transmission rates from 4.75 to 12. technologies. Its products are used to measure and control the flow of liquids in a variety of applications. Certain statements contained in the pages of this document, as well as other information provided from time to time by the company or its employees, may contain forward looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward looking statements. The words "anticipate," "believe," "estimate," "expect," "think," "should" and "objective" or similar expressions are intended to identify forward looking statements. The forward looking statements are based on the company's current views and assumptions and involve risks and uncertainties that include, among other things:
- the success or failure of new product offerings
- the actions and financial condition of competitors and alliance
partners
- changes in competitive pricing and bids in the marketplace
- changes in domestic conditions, including housing starts
- changes in foreign economic conditions, including currency
fluctuations
- changes in laws and regulations
- changes in customer demand and fluctuations in the prices of and
availability of purchased raw materials and parts.
Some or all of these factors are beyond the company's control. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward looking statements and are cautioned not to place undue reliance on such forward looking statements. The forward looking statements made herein are made only as of the date of this document and the company undertakes no obligation to publicly update such forward looking statements to reflect subsequent events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or . Badger Meter company news is available 24 hours a day, on-line at: http://www.badgermeter.com |
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