GE Industrial Systems to Acquire Kilsen; Fire Protection Company Complements Security & Life Safety Portfolio PLAINVILLE, Conn.--(BUSINESS WIRE)--July 8, 2002--GE Industrial Systems, a division of General Electric Company (NYSE:GE) announced today that it has signed an agreement to acquire Kilsen, a privately-held fire detection and control systems company headquartered in Barcelona, Spain.
The transaction, which is subject to government approvals and other customary conditions, is expected to close in the third quarter of 2002. Kilsen will become a part of the GE Interlogix, GE Industrial Systems Security & Life Safety business team. Terms of the deal were not disclosed. Driven by its customers needs, Kilsen offers a wide range of electronic fire detection and control systems, covering all market needs for fire and carbon monoxide detection in commercial and industrial buildings. Their product families include conventional and analog fire detectors using optical, heat and ionization methods; specialty detectors for aspiration and CO2 detection and fire control panels. Kilsen people and technology offer a strong complement to our existing fire protection portfolio within GE, and it allows us to expand our security and life safety products to customers across a broader region, said Lloyd Trotter, President and CEO of GE Industrial Systems.
Ken Boyda, President and CEO, GE Interlogix, stated, Kilsen's strong approach to research and development strengthens our Center of Excellence for fire detection technologies helping us to once again provide innovative and leading edge solutions for our customers. Jose Luis Gallardo Lamas, Managing Director, Kilsen said, We're joining one of the world's most recognized and valuable brands. We're excited about joining with GE in our efforts to meet our customers' needs with a broad fire detection and safety offering. Being a part of GE will help us focus on the growth vision for our business.
About GE Industrial Systems
GE Industrial Systems spans the globe as an industry leader in 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 Kilsen
Founded in 1978, Kilsen has been offering a wide range of dedicated electronic systems for fire detection and fire control panels for commercial and industrial buildings. Headquartered in Barcelona, Spain, Kilsen designs, develops, tests and manufactures all product offerings with a strong R&D component to help deliver innovation in fire protection and control tied to customer needs.
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CONTACT: GE Industrial Systems
Terry Dunn, 860/747-7397
Fax: 860/747-7393
Email: [email protected]
or
Kilsen, SA
Jose Luis Gallardo Lamas, +34 934809070
Fax: +34 934809067