Rockwell Automation to acquire ICS Triplex
ICS Triplex annual revenues are projected to be approximately £70 million for their current fiscal year which ends May 31, 2007. Rockwell Automation expects the transaction to be slightly dilutive to earnings per share in the first full fiscal year and accretive thereafter. Headquartered in Maldon, United Kingdom, ICS Triplex has more than 500 employees and operations across Europe, the Middle East, Asia and North America. ICS Triplex provides engineering services, products, and solutions for industries that demand high-integrity critical control. These industries primarily include oil and gas exploration, production, transportation, and refining as well as chemicals and power generation.
With their industry expertise and strong customer relationships, ICS Triplex provides an important strategic fit for our rapidly expanding process control and safety solutions businesses, said Keith Nosbusch, chairman and chief executive officer of Rockwell Automation. ICS customers in oil and gas, and other process industries will benefit from the breadth of Rockwell Automations product portfolio and solutions capabilities. It also allows us to incorporate ICS high availability, fault-tolerant technology into the Logix architecture extending the reach of this technology into discrete and hybrid process applications.
For 40 years, ICS Triplex has provided fault-tolerant safety and critical control solutions to premier companies in the oil and gas industry, said Peter Mottershead, ICS Triplex chief executive. As we combine these capabilities with Rockwell Automations 100 years of experience and strengths as a global leader in industrial automation control and information systems, it should enable us to grow our business and better serve our customers.
The process for acquiring ICS has started with an irrevocable undertaking from the owner of approximately 96 percent of ICS ordinary shares and the owner of 100 percent of ICS preference shares to accept this offer. Accordingly, by way of a United Kingdom public offer, Rockwell Automation expects, subject to the receipt of regulatory approval from the German Federal Cartel Office and the satisfaction of customary closing conditions, to acquire 100 percent equity interest in Industrial Control Services Group Limited. The transaction is expected to be completed during the third calendar quarter of 2007.
ICS Triplex will be included in the Control Products and Solutions operating segment.
Rockwell Automation, Inc. (NYSE: ROK), is a leading global provider of industrial automation control and information solutions that help manufacturers achieve a competitive advantage in their businesses. The company brings together leading global brands in industrial automation which include Allen-Bradley controls and services and Rockwell Software factory management software. Headquartered in Milwaukee, Wis., the company employs about 19,000 people serving customers in more than 80 countries.
MORE INDUSTRY NEWS
ARC terminal automation study names Implico as market leader in EMEA region
For terminal automation, in the Europe, the Middle East and Africa (EMEA) region, Implico is the leader with a market share of 23.75 percent. The...
Renishaw gives 108 students a taste for engineering
The students took on a series of engineering projects to get a taste of what a career in the field entails. The Renishaw work experience...
T&M Associates announces Ivica Cacic as Senior Automation Specialist
Cacic’s skillset will provide clients with solutions to many automation challenges associated with process optimization, system integration and...
ZENITH announces opening of two California offices
The decision to open the new offices comes following an increase in demand for its automation manufacturing software systems and the significant...
2016 ISA Water/Wastewater & Automatic Controls event draws 165 global attendees
The Symposium focused on the needs of automation professionals and on the varied challenges associated with automation and instrumentation in the...
Industrial PCs - Making the Right Choice
Today's automation designers and engineers are faced with a variety of hardware platforms to choose from. This whitepaper intended to...
Opto 22 announces Node-RED nodes for industrial automation controllers
These Node-RED nodes for PACs make it easier to prototype and develop applications for connecting physical assets to cloud applications and are...
ExxonMobil/The Open Group Continue Push for Open Process Control Architecture
By Bill Lydon, Editor
As a follow-on to ExxonMobil’s Industry Day, and their push to create specifications and standards for an, open, secure,...
Honeywell to provide automation, safety systems to Canadian natural gas plant
Located on the eastern shore of Canada in Nova Scotia, Pieridae Energy’s Goldboro LNG project will include a natural gas liquefaction terminal...
Rotork's IQ3 actuators enable creation of seven-way control valve
The valve, manufactured in Japan by the Aska Corporation, operates under high pressure to control and regulate the flow of chemicals such as...