PLAINVILLE, Conn.--(BUSINESS WIRE)--June 25, 2003--GE Industrial Systems, a $6 billion unit of the General Electric Company (NYSE: GE) announced today it has agreed to acquire substantially all of the assets of Kampro Technology, Inc., leaders in the development and manufacturing of high-performance image sensing technologies for all applications. The Taipei, Taiwan-based company is privately held.
The Kampro, Inc. product portfolio includes a full range of advanced high-performance image sensing products that feature ultra-low light, ultra-high sensitive, high-resolution, harsh-environment technologies in monochrome and color.
As part of GE, Kampro, Inc. will have access to advanced technologies that will enable the company to develop some of the widest dynamic range image sensing technologies in the world that are able to display details in ultra-low and very bright light conditions.
GE is very excited to include some of the world's most advanced, high-performance image sensing technologies as part of our integrated offering of security products, and to help our customers protect the public, said Lloyd Trotter, president and CEO, GE Industrial Systems.
Kampro, Inc. will become part of a growing, integrated security solution under one of the world's most respected and trusted brand names: GE.
Kampro, Inc. high-performance image sensing technologies will add for GE customers an incredible array of surveillance options to help protect the public, said Kenneth Boyda, president and CEO, GE Interlogix, GE's security business. GE and Kampro are not new to each other; GE Interlogix is a long-time buyer of Kampro image sensing products.
As part of GE, Kampro will be developing technologies that filter an incredibly wide variety of light conditions and can see tremendous details across one of the widest dynamic ranges in the world.
The high quality history of GE's relationship with Kampro was a major factor in our decision to acquire the assets of Kampro. GE will now have one of the widest offerings of image sensing technology in the industry.
We are very pleased to become a part of the GE family and we are looking forward to further advancements that we can make together in high-performance image sensing technologies, said Lanfer Yang, President, Kampro, Inc. We value our OEM customer relationships and we plan to build upon those relationships as part of GE.
Kampro, Inc. will become a subsidiary of General Electric International, Inc., a wholly-owned subsidiary of the General Electric Company, and will report to GE's security business, GE Interlogix. Terms of the transaction were not disclosed.
About GE Industrial Systems
GE Industrial Systems spans the globe as an industry leader in integrated industrial, electrical and security equipment, systems and services. The business brings to customers the latest technologies that are used to distribute, protect and control energy and equipment, and to provide premise management.
GE provides innovative product and service solutions for commercial, industrial, residential and utility customers.
For more information visit the website at http://www.geindustrial.com.
Editors: For more information and photography about GE Industrial Systems products that help provide peace of mind and protection for people, their properties and workplaces, please visit our online media center at: http://www.geindustrial.com/presscenter/
THIS NEWS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS. THE FOLLOWING FACTORS, AMONG OTHERS, COULD CAUSE THE ACTUAL RESULTS OF THE ACQUISITION TO DIFFER MATERIALLY FROM GE INDUSTRIAL SYSTEM'S EXPECTATIONS: THE ABILITY TO TIMELY AND FULLY REALIZE THE EXPECTED COST SAVINGS AND REVENUES; COMPETITION; CHANGES IN ECONOMIC CONDITIONS.
GE INDUSTRIAL SYSTEMS DOES NOT ASSUME ANY DUTY TO UPDATE FORWARD-LOOKING STATEMENTS. SUCH STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS THAT MAY CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY. SUCH STATEMENTS ARE BASED ON INFORMATION AVAILABLE AS OF THE DATE HEREOF, AND ARE MADE ONLY AS OF THE DATE HEREOF.
TO THE EXTENT THAT SUCH STATEMENTS RELATE TO THE PROPOSED ACQUISITION REFERRED TO IN THIS RELEASE, THERE IS A RISK, AMONG OTHERS, THAT THE TRANSACTION MIGHT NOT BE COMPLETED.
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CONTACT: GE Industrial Systems
Terry Dunn, GM, Global Communications & Public Affairs
Tel: 860/747-7397
Email: [email protected]
or
Kampro, Inc.
Lanfer Yang, President
Tel: +886 (-2) -22999-499
Email: [email protected] mailto:[email protected]