GE Completes Acquisition of International Fiber Systems PLAINVILLE, Conn.--(BUSINESS WIRE)--April 30, 2003--GE Industrial Systems, a $6 billion unit of the General Electric Company (NSYE: GE) announced today it has completed the acquisition of International Fiber Systems, Inc. (IFS), a provider of advanced, digital fiber optic transmission products and systems for electronic security and intelligent transportation systems.
The Newtown, Conn.-based company is privately held. The IFS product portfolio includes analog and digital fiber optic transmission equipment for video, audio and data signals used in access control, fire, alarm, and video surveillance and detection systems. IFS products are in use along highways, and toll plazas. The company provides products for traffic signaling networks, variable message/changeable message signs and electronic toll collection systems. IFS products are also used in building automation and control as well as post-production and broadcast applications.
GE's accelerated growth in electronic security will help to protect the public and provide peace of mind, said Lloyd Trotter, president and CEO, GE Industrial Systems. IFS broadens the range of GE product offerings for analog and digital security products. With IFS, we can now provide the world a richer array of secure, digital fiber optic GE solutions to help protect the public, said Kenneth Boyda, president and CEO, GE Interlogix, GE's security business. IFS will become a subsidiary of GE Interlogix, Inc., a part of GE Industrial Systems, based in Plainville, Conn.
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/
About International Fiber Systems, Inc.
International Fiber Systems, Inc. specializes in the advancement in fiber optic technology. IFS offers more than 300 analog and digital fiber optic transmission products for use in transmitting video, audio, and data signals over optical fiber. IFS fiber optic transmission equipment is in use worldwide in a variety of markets and applications. The company offers an industry first with its fiber optic Design Center where consultants, engineers, and integrators can get solid design assistance via a toll-free number.
For more information, visit the company's website at: www.ifs.com.
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
Tel: 860/747-7397
Email: [email protected]
or
International Fiber Systems, Inc.
George Lichtblau
Tel: 203/426-1180
Email: [email protected]