Actuant Acquires Turotest
March 28 2012 - 5:00PM
Business Wire
Actuant Corporation (NYSE:ATU) announced today that it has
acquired Turotest, a leader in the design and manufacture of
instrument panels, gauges and senders serving the Brazilian
agriculture and industrial markets. Turotest, headquartered near
Sao Paulo, Brazil, generates annual revenues of approximately $13
million.
Turotest will operate as part of the Maxima business within
Actuant’s Engineered Solutions Segment. Bill Blackmore, Executive
Vice President, Engineered Solutions, stated: “Turotest is a great
addition to our Maxima business, serving the attractive agriculture
market in Brazil. We expect to leverage the strong technical
capabilities and customer relationships of the combined businesses
to further extend our reach into the growing agriculture,
construction and mobile equipment markets in Latin America. Adding
a well recognized brand like Turotest to Maxima provides us with
the opportunity to expand into Latin America and better serve our
global OEM customers with local production and technical support.
We welcome the Turotest team to Actuant and look forward to working
together to enhance the value of the business.”
About Actuant
Actuant Corporation is a diversified industrial company with
operations in more than 30 countries. The Actuant businesses are
leaders in a broad array of niche markets including branded
hydraulic and electrical tools and supplies; specialized products
and services for energy markets and highly engineered position and
motion control systems. The Company was founded in 1910 and is
headquartered in Menomonee Falls, Wisconsin. Actuant trades on the
NYSE under the symbol ATU. For further information on Actuant and
its businesses, visit the Company's website at www.actuant.com.
Safe Harbor
Certain of the above comments represent forward-looking
statements made pursuant to the provisions of the Private
Securities Litigation Reform Act of 1995. Management cautions that
these statements are based on current estimates of future
performance and are highly dependent upon a variety of factors,
which could cause actual results to differ from these estimates.
Actuant’s results are also subject to general economic conditions,
variation in demand from customers, the impact of geopolitical
activity on the economy, continued market acceptance of the
Company’s new product introductions, the successful integration of
acquisitions, restructuring, operating margin risk due to
competitive pricing and operating efficiencies, supply chain risk,
material and labor cost increases, foreign currency fluctuations
and interest rate risk. See the Company’s Form 10-K filed with the
Securities and Exchange Commission for further information
regarding risk factors. Actuant disclaims any obligation to
publicly update or revise any forward-looking statements as a
result of new information, future events or any other reason.
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