Waters Instruments Acquires Rutland Electric Fencing Company Ltd.MINNEAPOLIS -- Waters Instruments, Inc. (Nasdaq:WTRS WTRS Wittwer Syndrome ) announced today Waters' new subsidiary Zareba za·re·ba also za·ree·ba n. 1. An enclosure of bushes or stakes protecting a campsite or village in northeast Africa. 2. A campsite or village protected by such an enclosure. Systems Europe Limited has acquired Rutland Electric Fencing fencing, sport of dueling with foil, épée, and saber. Modern Fencing The weapons and rules of modern fencing evolved from combat weapons and their usage. Company Ltd., the largest manufacturer of electric fencing products in the United Kingdom. Terms were not disclosed. Rutland's headquarters and manufacturing facilities are located in Oakham, Rutland, United Kingdom, with a warehouse in Brechin, Angus Angus (ăng`gəs), council area (1993 est. pop. 111,020), 842 sq mi (2,181 sq km), and former county, NE Scotland. Under the Local Government Act of 1973, the county of Angus became part of the Tayside region in 1975. , Scotland. Rutland has 55 employees and annual sales of approximately $9 million. The family-owned business was founded in 1973 by Les Dickinson. Its Electric Shepherd energizers are sold to the farming and equestrian equestrian a rider of horses. markets; the Rutland Induced induced /in·duced/ (in-dldbomacst´) 1. produced artificially. 2. produced by induction. induced, adj artificially caused to occur. induced induction. Pulse security fencing system has been accepted as the perimeter defense A defense without an exposed flank, consisting of forces deployed along the perimeter of the defended area. solution for many companies in the United Kingdom and Europe. Waters' Zareba Systems division is North America's largest manufacturer of electric fence
"We think the combination of Zareba Systems and Rutland Electric Fencing is a win-win situation for both companies," said Jerry Grabowski, president and chief executive officer of Waters Instruments. "Rutland's owners wanted to retire and transition the business to a company that could provide good management, grow what Mr. Dickinson started and extend Rutland's vision of high quality electric fence products. "We believe there are benefits to both companies, giving the Rutland product line greater exposure in the United States, and Zareba products more exposure in the United Kingdom. One of our strategies is to increase sales in Europe. We concluded the acquisition of this well-regarded company is an excellent growth method. Waters Instruments' sales of $24.2 million last fiscal year, plus Rutland annual sales of $9 million, brings a combined sales amount of about $33 million. We believe this level of revenue potential can move us closer to our goal of being a $50 million company by 2008. We see Rutland as a strong strategic fit for Waters." Waters plans to develop future United Kingdom and European sales through Rutland's continued operations. Reductions in Rutland or Waters U.S. employees are not planned. Mr. L. Dickinson and his wife, N. Dickinson, intend to continue their relationships with Rutland in consulting capacities. Zareba Systems (www.zarebasystems.com) manufactures perimeter The boundary of a system or network, which defines the inside and outside. It is typically determined by firewalls and addresses. See DMZ. electric fencing and accessories for animal containment containment Strategic U.S. foreign policy of the late 1940s and early 1950s intended to check the expansionist designs of the Soviet Union through economic, military, diplomatic, and political means. It was conceived by George Kennan soon after World War II. and security applications from its plant in Ellendale, Minn. Rutland Electric Fencing Company Ltd. manufactures electric fence energizers, accessories and equipment for agriculture, equestrian and security from its plant in Oakham, Rutland.(www.rutland-electric-fencing.co.uk) Waters Instruments, Inc. is a customer-focused, market-driven provider of value-added technology solutions from two divisions - Zareba Systems and Waters Medical Systems. A Minnesota corporation since 1960, the company's corporate headquarters is located in Minneapolis, with manufacturing facilities in Rochester and Ellendale, Minn. The corporate web site is located at www.wtrs.com. This release includes certain "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " as defined under Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The forward-looking statements relate to (i) increased sales in Europe, including in the United Kingdom, through Rutland's continued operations, which depend on the success of the integration of Rutland, the costs of any international regulations or other related matters, as well as the success of new products and development efforts, and general competitive and market conditions; (ii) combined revenues of $33 million or more in the future, which depends on both Waters and the new Rutland subsidiary meeting or exceeding prior year sales, the costs associated with the integration of Rutland into Waters, the success of new products and development efforts, as well as general competitive and market conditions; and (iii) the current expectation that there will be no reductions in Waters and Rutland employees, which depends on how the business needs develop as Rutland becomes more integrated in Waters, as well as on other general business factors affecting our businesses. |
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