GE Industrial Systems Completes Acquisition of NovaSensor PLAINVILLE, Conn.--(BUSINESS WIRE)--Sept. 23, 2002--GE Industrial Systems, a division of General Electric Company (NYSE: GE), announced today that it has completed its acquisition of NovaSensor Inc., which was formerly a subsidiary of TRW Inc. (NYSE: TRW).
NovaSensor(R) is a leading provider of high-technology products to medical, automotive and industrial process control markets. The business, which now becomes GE NovaSensor, is based in Fremont, California and will operate as a part of the GE Measurement & Sensing Technologies business within GE Industrial Systems. John Pendergrass, Business Leader, will continue leading the GE NovaSensor business. Terms of the transaction were not disclosed.
GE NovaSensor has been a pioneer in developing effective technologies in micromachining process design. Its primary focus is on pressure sensing and MEMS technology for applications ranging from high volume production for use in products such as disposable blood pressure monitors to automotive applications that improve safety, comfort and performance to large industrial OEMs in areas such as food processing, hydraulic monitoring, wastewater treatment and manufacturing.
The NovaSensor acquisition is yet another example of how we are growing in markets that help improve people's lives, said Lloyd Trotter, President and CEO, GE Industrial Systems. GE NovaSensor is a leader in sensor technologies and applications for the medical, industrial and automotive market segments. Together, we will produce a broad and diversified product portfolio for our combined customers, he said.
John Pendergrass, Business Leader of GE NovaSensor, commented, We bring to GE innovative MEMS pressure sensor technology and high volume manufacturing capabilities. We're excited about joining GE with its long history of innovation, integrity and growth. Adding NovaSensor, a recognized leader in sensor technology, to our team helps us expand our already comprehensive product offering to better meet our customers needs, said Paul Wood, General Manager, GE Measurement & Sensing Technologies.
About GE NovaSensor(R)
Founded in 1985, GE NovaSensor, Inc. is a wholly owned subsidiary of General Electric Company (NYSE: GE). Headquartered in Fremont, CA, NovaSensor is considered an industry leader in developing technologies in microstructure design and production for OEM customers in the medical, automotive, and industrial process industries. For more information visit the website at www.novasensor.com.
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.
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CONTACT: GE Industrial Systems, Plainville
Terry Dunn, 860/747-7397, Fax: 860/747-7393
Email: [email protected]