Badger Meter to Acquire Data Industrial Corporation; Acquisition Expands Line of Commercial and Industrial Meters.Business Editors MILWAUKEE--(BUSINESS WIRE)--March 7, 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 signed a letter of intent for the acquisition of Data Industrial Corporation of Mattapoisett, Mass. Terms of the cash transaction were not disclosed. Data Industrial Corporation (DIC DIC diffuse intravascular coagulation; disseminated intravascular coagulation. DIC abbr. disseminated intravascular coagulation Disseminated intravascular coagulation (DIC) ) is one of the five leading suppliers in the world of impeller flow sensors A flow sensor is a device for sensing the rate of fluid flow. Typically a flow sensor is the sensing element used in a flow meter, or flow logger, to record the flow of fluids. , which measure in-pipe liquid flow in the industrial and commercial markets. The company manufactures a full line of liquid flow measuring sensors and associated monitors, transmitters and controls for applications including irrigation irrigation, in agriculture, artificial watering of the land. Although used chiefly in regions with annual rainfall of less than 20 in. (51 cm), it is also used in wetter areas to grow certain crops, e.g., rice. , HVAC (Heating Ventilation Air Conditioning) In the home or small office with a handful of computers, HVAC is more for human comfort than the machines. In large datacenters, a humidity-free room with a steady, cool temperature is essential for the trouble-free systems, silicon wafer fabrication Wafer Fabrication is a procedure composed of many repeated sequential processes to produce complete electrical or photonic circuits. Examples include production of radio frequency (RF) amplifiers, LEDs, optical computer components, and CPUs for computers. , industrial waste treatment, chemical reagent reagent /re·a·gent/ (re-a´jent) a substance used to produce a chemical reaction so as to detect, measure, produce, etc., other substances. re·a·gent n. metering and municipal water systems. DIC had sales of approximately $6 million in its most recent fiscal year. "The acquisition of DIC broadens our line of meters for commercial and industrial customers and enables us to offer another meter reading technology," said Richard A. Meeusen, president of Badger Meter. "The acquisition is a good fit for Badger Meter. We can offer the DIC products through our existing sales channels and we also believe we will be able to incorporate some of the DIC monitors, sensors and controls into our current industrial metering products." "We are pleased that our products will fit as a part of the Badger Meter industrial product line. Our impeller flow sensors complement Badger Meter's existing industrial products and provide opportunities to cross-sell products to each company's customer base," said James Cummins, president of DIC. The DIC meters use a "paddlewheel" design that provides an inexpensive means of measuring flow in non-critical locations. The company's products are sold to original equipment manufacturers, distributors and end users. DIC was founded in 1978 as a subsidiary of Datamarine International Corp. The current management team purchased DIC from Datamarine in 1992. Meeusen said Cummins and other key members of the DIC management team will remain with the company following the acquisition by Badger Meter. The acquisition is expected to be completed in March 2002. 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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