NACKA STRAND, Sweden, July 16, 2004 (PRIMEZONE) -- Hexagon has acquired all outstanding shares in the French metrology company Romer S.A. The acquisition will be consolidated as of July 1st 2004 and will generate a positive contribution to Hexagons earnings from the start.
The company's main product is the "articulated arm" which is used to measure objects in three dimensions in a variety of industries. Romer is the innovator in using portable arms to perform 3 dimensional measurements. R&D and manufacturing is located in Montoire, Loire, France. The products are distributed via external distributors as well as via subsidiaries all over the world. Romers sales turn over were 8 MEUR in 2003 and it has some 40 employees. The seller of the company, Mr Romain Granger, will remain as President and responsible for the continued R&D efforts related to the articulated arms technology.
Hexagon will continue to operate Romer according to today's concept. Synergies will be accomplished by complementing today's distribution channels with Hexagons channels which in turn should generate additional sales volumes. Furthermore; Hexagon will adapt its software, PCDMIS, to fit Romers products.
The acquisition will complement Hexagons portfolio of metrology systems with the so called articulated arms technology. This will in turn lead to a strong presence in a rapidly growing segment of the metrology market. Hexagons resources in R&D will add a strong metrological know how to Romers development whilst Hexagons strong global sales- and service net work will sell and service Romers products. Romer will strengthen the group in several specialty applications.
Hexagon AB is a multinational engineering group with the long-term ambition of positioning itself as number one or number two within its strategic sectors. The operation is divided into four business areas: Hexagon Automation, Hexagon Engineering, Hexagon Metrology and Hexagon Polymers. The group's targets are to increase earnings per share after tax by at least 15 per cent p.a., and achieve a return on capital employed higher than 15 per cent over the business cycle. Current turnover amounts to more than 8 GSEK p.a.
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