Chatham Technologies Acquires French Manufacturer, Grolleau S. A.DALLAS--(BUSINESS WIRE)--Jan. 5, 1999--Chatham Technologies Inc., a Dallas-based manufacturer of custom integrated electronic enclosures and systems for electronic and communications equipment, has acquired Grolleau S. A., a French electronic enclosure manufacturer with annual revenues of approximately $18 million. Terms of the acquisition were not disclosed. Chatham Technologies was formed in August of 1997 through the simultaneous acquisition of seven leading U. S.-based electronic enclosures companies. Its principal business is the design, manufacture, assembly and testing of custom integrated electronic enclosure systems, mechanical components and value-added services A value-added service (VAS) is a telecommunications industry term for non-core services or, in short, all services beyond standard voice calls and fax transmissions. for sale to original equipment manufacturers in the telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. , electronics, computer, avionics avionics (ā'vēŏn`ĭks), electronic instruments used in air or space flight; also the design and production of such instruments. Early planes had few instruments, but as aviation and aircraft became more complex, so did instrumentation. , industrial and transportation markets. Grolleau, located in Montilliers, France, operates three facilities with more than 150,000 square feet of manufacturing space and 109 employees. The 50 year old company has been manufacturing aluminum electronic enclosures for outdoor and indoor applications for 35 years. Grolleau's major customers include Alcatel Telecom, Nortel and France Telecom. "Grolleau is a world-class operation and we are pleased to add this industry leader to our team," said William Kidd, Chairman and Chief Executive Officer of Chatham Technologies. "The Grolleau acquisition furthers Chatham's strategic goal of international expansion to better serve large multinational customers who continue to request global, integrated capabilities." "Joining Chatham is a significant opportunity for our company," said Jean-Christophe Pietri, President Director General of Grolleau. "Chatham's international sales and manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. will provide us with the opportunity to grow to a level not possible before." 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. Kidd, the combined companies will have pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma revenues of approximately $425 million in 1999. Kidd adds that Pietri will continue as President of Chatham's Grolleau Group and will also join the Executive Operations Board of Chatham Technologies. Grolleau will be the fourth acquisition announced by Chatham in the past eight months. In June of 1998, Chatham acquired Swedform Metall, AB, an integrated electronic enclosure manufacturer based in Skillingaryd, Sweden. Chatham purchased Innovation Inc. of Bothell, Wash., an engineering and design firm serving the wireless industry, last May. In 1998 Chatham also acquired from Ericsson three enclosure-manufacturing facilities located in Spain, Croatia and Mexico. Chatham Technologies is a Delaware corporation A Delaware corporation is a corporation chartered in the U.S. state of Delaware. Delaware is well known as a corporate haven, and thus, over 50% of US publicly-traded corporations and 58% of the Fortune 500 companies are incorporated in the state. with headquarters in Dallas. With the addition of these recent acquisitions, Chatham will operate 23 manufacturing facilities covering more than 1.75 million square feet with approximately 2,500 employees. Electronic enclosures include steel, aluminum, stainless steel stainless steel: see steel. stainless steel Any of a family of alloy steels usually containing 10–30% chromium. The presence of chromium, together with low carbon content, gives remarkable resistance to corrosion and heat. , plastic or composite casings Ca´sings n. pl. 1. Dried dung of cattle used as fuel. that house and protect virtually every electronic product in indoor and outdoor applications. In addition, Chatham provides a full range of value-added services for its customers, including design and engineering, installation of electronic components, assembly, testing, inventory control, packaging and distribution services. Additional Information about Chatham and its products and services is available on the Internet at www.chathamtechnologies.com. |
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