PLAINVILLE, Conn.--(BUSINESS WIRE)--July 1, 2002--GE Industrial Systems, a division of the General Electric Company (NYSE:GE), announced today the completion of the acquisition of Druck Holdings plc (LSE: DRK), a world leader in the application of advanced silicon sensor technologies for pressure measurement and control. Bob Davies, CEO of Druck, will continue in that role for the new entity, reporting to the GE Measurement & Sensing Technologies business team within GE Industrial Systems.
Druck is a specialized UK based manufacturer of precision pressure sensors and instrumentation with subsidiaries throughout America, Europe and the Far East. The product range includes pressure sensors, primary & secondary pressure standards, field calibrators and aviation ground support equipment. These products are used for a diversity of applications from aerospace to subsea and from industrial to medical. Annual revenues are approximately US $110M.
The Druck acquisition again demonstrates our commitment to expanding our offerings with innovative, leading edge technologies for our customers, said Lloyd G. Trotter, president and CEO of GE Industrial Systems. With its world-leading products, well-established technology and world-wide presence, Druck fits perfectly into our growth strategy for our measurement and sensing technologies group and allows us to offer a more complete line of products for the world or pressure in the industrial, medical and scientific and aerospace markets.
Paul Wood, GM, GE Measurement & Sensing Technologies stated, This is a great add to our business. Together with Druck's innovative products and great people, we will be able to bring new technologies to our customers at a rapid pace.
About GE Industrial Systems
GE Industrial Systems spans the globe as an industry leader in single, integrated industrial equipment, systems and services. The business brings to customers the latest technological products used to distribute, protect and control electrical power and equipment, and provides innovative product and service solutions for commercial, industrial, residential and utility applications. For more information visit the website at www.GEindustrial.com
About Druck plc
Druck is a specialist British based manufacturer of precision measuring and test equipment with subsidiaries throughout America, Europe and the Far East. The products range includes Pressure Sensors, Portable Calibrators, Calibration Standards and Air Data Test Systems.
Established in 1972, Druck is a world leader in the application of advanced silicon sensor technologies for pressure measurement and control. Further information about Druck can be found at www.druck.com Druck Holdings plc is listed on the London Stock Exchange (ticker: DRK).
Druck and the Druck logo are trademarks of Druck Holdings plc. All rights reserved.
CONTACT:
GE Industrial Systems
Anne Witkavitch, 860/747-7461
Fax: 860/747-7393
anne.witkavitch@indsys.ge.com