Genrad Acquires UK MES Integration Business; Establishes Platform for GR Software Expansion in Europe.WESTFORD, Mass.--(BUSINESS WIRE)--April 9, 1998--GenRad, Inc. (NYSE NYSE See: New York Stock Exchange :GEN) today announced the acquisition of the Manufacturing Execution Systems – Manufacturing execution system (MES) describes a set of integrated functions within a packaged software system or it can also describe the accumulated functionality within the production management infrastructure of a manufacturing or production company. (MES (Manufacturing Execution Software) Software that provides real time access to plant activities that include equipment, labor, orders and inventory. An MES integrates the data with enterprise resource planning (ERP) systems so that management has complete control of ) business component of Valstar Valstar® Valrubicin Oncology An anthracycline for intravesical use in Pts with biopsy-proven carcinoma in situ of bladder who are refractory to BCG immunotherapy, and in whom cystectomy is contraindicated. See BCG therapy, Bladder cancer. Systems Ltd. of Aberdeen, Scotland. Valstar's MES component provides integration services and support for Shop Floor Data Manager (SFDM SFDM Syphon Filter Dark Mirror (game, Sony) SFDM San Francisco, del Monte (Quezon City, Philippines) SFDM School of Film and Digital Media SFDM Shop Floor Data Management ) from Industrial Computer Corporation (ICC ICC See: International Chamber of Commerce ) of Atlanta, GA. GenRad acquired ICC earlier this week. The Valstar acquisition is a cash transaction for an undisclosed sum and will be accounted for as a purchase of assets. As part of the acquisition, GenRad entered into a two-year consulting and services agreement with Valstar Systems Ltd. that includes securing Valstar CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Bernard Booker, and other Valstar resources to transition the business to GenRad. The business will report into GR Software, GenRad's newly created software business unit, and to GenRad's European Sales and Support Operations. "The acquisition of Valstar's MES business ensures continued high quality service and support to SFDM customers in the UK," stated Sarah H. Lucas, GenRad's Vice President, Chief Strategic Officer. "Additionally, Valstar's systems integration and support capabilities provide GR Software with a solid base for expansion of the market for SFDM throughout all of Europe." Valstar Systems Ltd. Background Founded in 1981, Valstar Systems distributes, implements, and supports Shop Floor Data Manager (SFDM) within the UK. Working closely with Industrial Computer Corporation, Valstar offers this standard off-the-shelf MES solution as well as consulting, project management, integration and installation expertise. Valstar Systems has been installing shop floor systems for over 15 years. Valstar Systems web site address is http://www.valstar.co.uk. GenRad Background GenRad, Inc. provides electronics OEMs and their customers with the hardware, software, inspection systems and services to optimize optimize - optimisation design, manufacturing and after-market service productivity. GenRad, headquartered in Westford, MA, offers products and services through three business units: Advanced Diagnostic Solutions (ADS), Electronic Manufacturing Systems (EMS), and GR Software (GRS GRS Graduate School (universities) GRS Great Red Spot (feature of Jupiter) GRS Gender Reassignment Surgery GRS Gamma Ray Spectrometer GRS Graduation Rate Survey GRS General Records Schedules ). GenRad employs approximately 1,400 people worldwide, of whom 35 percent are applications, software and hardware engineers. GenRad's web site address is http://www.genrad.com. GenRad's most current shareholder information is available by visiting our Website at http://www.genrad.com or calling our Fax On Demand Service at (800) 469-1261. -0- Statements made in this press release which are not historical, including statements regarding product demonstration, product capabilities and markets are forward looking statements and as such are subject to a number of risks. Please see the Company's 1996 Annual Report or Form 10K and other reports filed pursuant to the Securities Exchange Act of 1934 for additional disclosure regarding such risk factors. CONTACT: GenRad, Inc. Walter A. Shephard, 978/589-7440 shephardwa@genrad.com or GenRad, Inc. Nancy A. Miller, 978/589-7144 millern@genrad.com |
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