Jetter AG

euro adhoc: Jetter AG
Mergers - Acquisitions - Takeovers
Jetter announces the acquisition of Control Developments - adhoc announcement under § 15 WpHG

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Ludwigsburg, 04 February 2008. Jetter AG (ISIN: DE0006264005), the German Ludwigsburg-based manufacturer of industrial controllers, acquires, with effect of 01 January  2008, Oxford-based Control Developments (U.K.) Ltd., who in 2007 realised sales of 1,4 MGBP, employing eight people. The purchase prize is to remain confidential. Control Developments develops and sells electro-hydraulic control systems for mobile automation. Its biggest customer is Johnston Sweepers Ltd., a manufacturer of municipal vehicles. Johnston Sweepers is part of the Swiss group Bucher Industries AG, who also holds shares in Jetter. Control Developments´ excellent knowledge of the control of hydraulic systems ideally complements Jetter´s know-how and product portfolio in the mobile automation sector, with emphasis on operation and connectivity. With this acquisition, Jetter markedly strengthens its mobile automation sector. Jetter expects a solid growth for this segment over the next years, i.a. through a projected intensification of the co-operation with Bucher. Control Developments will change its name to Jetter UK Ltd. and will be transformed into an R&D centre for mobile automation. Manufacturing and administration will in the mean term move to Ludwigsburg. Jetter´s global sales network will provide further growth potential for this product segment. Jetter is a leading supplier of control systems for industrial and mobile automation. Apart from the parent company, there is a German subsidiary in Tettnang as well as subsidiaries in USA, Singapore, Italy and Switzerland. Its 191 employees generated sales of 36 MEUR in 2006/07.

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ots Originaltext: Jetter AG
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Further inquiry note:
Günter Eckert
Tel +49 7141 2550-514

Branche: Semiconductors & active components
ISIN:      DE0006264005
WKN:        626400
Index:    CDAX, Prime All Share, Technologie All Share
Börsen:  Börse Frankfurt / regulated dealing/prime standard
              Börse Berlin / free trade
              Börse Hamburg / free trade
              Börse Stuttgart / free trade
              Börse Düsseldorf / free trade

Weitere Meldungen: Jetter AG

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