Hammond Power Solutions Inc. Completes Acquisition of Marnate Trasformatori s.r.l. in Italy
February 12 2013 - 10:28AM
Marketwired
Hammond Power Solutions Inc. ("HPS") (TSX:HPS.A) today announced
that it has completed the acquisition of Marnate Trasformatori
s.r.l. ("Marnate") in Italy, acquiring a 100% equity ownership of
its business.
The company will operate as Marnate Trasformatori s.r.l., a
subsidiary of HPS.
Bill Hammond, Chief Executive Officer of Hammond Power Solutions
Inc. stated, "We are very pleased with the Marnate acquisition.
This company will not only expand HPS' European presence, it also
broadens our product offering and manufacturing capabilities in
cast resin technology and supports HPS' growth strategies globally.
Marnate has an excellent reputation in the electrical industry for
its standard and engineered to order capabilities and quality."
About Hammond Power Solutions Inc.
Hammond Power Solutions Inc. (TSX:HPS.A) is a North American
leader for the design and manufacture of dry-type custom electrical
engineered magnetics, electrical dry-type and cast resin
transformers. Leading edge engineering capabilities, high quality
products, and responsive service to customers' needs have all
served to establish HPS as a technical and innovative leader in the
electrical and electronic industries.
HPS has operations in Canada, United States, Mexico, India and
Italy.
Caution Regarding Forward-Looking Information
This press release contains forward-looking statements that
involve a number of risks and uncertainties, including statements
that relate to among other things, HPS' strategies, intentions,
plans, beliefs, expectations and estimates, and can generally be
identified by the use of words such as "may", "will", "could",
"should", "would", "likely", "expect", "intend", "estimate",
"anticipate", "believe", "plan", "objective" and "continue" and
words and expressions of similar import. Although HPS believes that
the expectations reflected in such forward-looking statements are
reasonable, such statements involve risks and uncertainties, and
undue reliance should not be placed on such statements. Certain
material factors or assumptions are applied in making
forward-looking statements, and actual results may differ
materially from those expressed or implied in such statements.
Important factors that could cause actual results to differ
materially from expectations include but are not limited to:
general business and economic conditions (including but not limited
to currency rates); changes in laws and regulations; legal and
regulatory proceedings; and the ability to execute strategic plans.
HPS does not undertake any obligation to update publicly or to
revise any of the forward-looking statements contained in this
document, whether as a result of new information, future events or
otherwise, except as required by law.
If you would prefer to receive press releases via email contact
Investor Relations at: (ir@hammondpowersolutions.com).
Contacts: Hammond Power Solutions Inc. Dawn Henderson Manager
Investor Relations (519) 822-2441 x 414
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