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
Fluke products named finalists for Plant Engineering 2016 Product of the Year Awards
Fluke Condition Monitoring and the Fluke 279 FC Thermal Multimeter are finalists in the Maintenance Tools and Equipment category. The awards honor...
Fuji America chooses Saki's automated optical inspection system
Saki's inspection and measurement systems will be used to ensure that the printed circuit boards produced at Fuji adhere to the standards of...
SWEMCO chooses FactoryLogix MES for factory visibility
As a provider for Fortune 500 companies, government entities, and privately-held businesses throughout North America, SWEMCO has used Aegis...
Cognex announces acquisition of two 3D machine vision companies
On October 27, 2016, Cognex acquired EnShape GmbH, a maker of advanced 3D vision sensors and software based in Jena, Germany. On August 30, 2016,...
Abaco Systems announces Kevin Campbell as Vice President of Engineering
Campbell’s appointment is the latest addition to the company’s growing pool of talent, which has seen Abaco grow from ~600 employees in...
Microscan announces free machine vision training course
The course will be held in Microscan’s Northeast Technology Center in Nashua, New Hampshire, from December 6-8, 2016 at 8:30 AM to 4:30 PM daily....
Honeywell's control and safety systems selected for Turkish natural gas pipeline
The system will ensure safe operations of compressor stations along the entire length of the pipeline. The Southern Gas Corridor is a critical part...
WSCAD releases expanded electrical CAD data library
Over 140,000 updated parts, data and new records were added in 2016, including several from manufacturers such as BALLUFF, DRAGO, Phoenix Contact,...
Senix helps Murray Irrigation automate level measurement
Murray Irrigation, Australia's largest privately owned irrigation company, is automating its 3,000 kilometers of gravity-fed irrigation channels in...
Emerson provides Roxar reservoir modeling software to Kuwait Oil Company
Emerson’s Roxar RMS reservoir modeling software includes a variety of different modules covering well correlation, mapping, structural modeling,...