Measurement Specialties Closes Acquisition of Humirel, SA
23 December 2004 - 9:42AM
PR Newswire (US)
Measurement Specialties Closes Acquisition of Humirel, SA
FAIRFIELD, N.J., Dec. 22 /PRNewswire-FirstCall/ -- Measurement
Specialties, Inc. (AMEX:MSS), a designer and manufacturer of
sensors and sensor-based consumer products, announced today it has
closed its acquisition of the stock of Humirel SA ("Humirel") as
announced on December 20, 2004. The purchase price was
approximately 19 million Euro, or $25.3 million ($23.4 million at
close and $1.9 million in deferred payment). Furthermore, the
sellers can earn up to an additional $6.3 million if certain
performance hurdles are achieved. Management shareholders received
$476,000 of the closing consideration in restricted stock, or
20,000 shares. Humirel (http://www.humirel.com/), based in
Toulouse, France, designs and manufactures humidity sensors and
assemblies for automotive, heavy truck, HVAC and consumer products
markets. End customers include several major European, US and Asian
automakers, most major diesel engine companies and leading consumer
HVAC and durable goods manufacturers. About MSI. Measurement
Specialties, Inc. designs and manufactures sensors and sensor-based
consumer products. The Sensor division, also known as MSI Sensors,
produces a wide variety of sensors and transducers to measure
precise ranges of physical characteristics such as pressure, force,
vibration, position, tilt, flow and distance. MSI Sensors uses
multiple advanced technologies -- including piezoresistive,
electro-optic, electro-magnetic, capacitive, application specific
integrated circuits (ASICs), micro- electromechanical systems
(MEMS), piezoelectric polymers and strain gauges - to engineer
sensors that operate precisely and cost effectively. The Consumer
division produces OEM bathroom scales, Accutire(R) brand tire
pressure gauges and other products. Company Contact: Frank Guidone,
CEO, (757) 766-4400 Investor Contact: Aimee Boutcher or Daniel
Boutcher, (973) 239-2878 DATASOURCE: Measurement Specialties, Inc.
CONTACT: Frank Guidone, CEO of Measurement Specialties,
+1-757-766-4400 Aimee Boutcher, or Daniel Boutcher, both of
Boutcher & Boutcher Investor Relations, +1-973-239-2878 for
Measurement Specialties Web site: http://www.msiusa.com/
http://www.humirel.com/
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