CIRCOR Acquires French Aerospace Component Company - Industria, S.A.
October 05 2005 - 1:37PM
PR Newswire (US)
BURLINGTON, Mass., Oct. 5 /PRNewswire-FirstCall/ -- CIRCOR
International, Inc. (NYSE:CIR) a leading provider of valves and
other fluid control devices for the instrumentation, aerospace,
thermal fluid and energy markets, today announced the acquisition
of Industria, S.A. ["Industria"] for approximately $10 million in a
cash for stock transaction. Industria, located in Le Plessis
Trevise, France, near Paris, produces solenoid valves and
components for commercial and military aerospace applications and
will operate as part of CIRCOR's Aerospace Products business unit.
With annual revenues of approximately $14 million, Industria is
expected to contribute $0.02 to $0.03 to CIRCOR's diluted earnings
per share in 2006. CIRCOR's Chairman and Chief Executive Officer,
David A. Bloss, Sr. stated, "With the acquisition of Industria, we
extend our reach into the European aerospace and military markets
for flight-qualified hardware, and expand our global product
offering with solenoid valves and related components. This
acquisition also enables us to leverage our respective sales and
engineering teams through cross-selling and joint new product
development." CIRCOR International, Inc. is a leading provider of
valves and fluid control products that allow customers around the
world to use fluids safely and efficiently in the instrumentation,
aerospace, thermal fluid and energy markets. CIRCOR's executive
headquarters are located at 25 Corporate Drive, Burlington, MA
01803. This press release contains certain statements that are
"forward-looking statements" as that term is defined under the
Private Securities Litigation Reform Act of 1995 (the "Act") and
releases issued by the Securities and Exchange Commission (SEC).
The words "may," "hope," "should," "expect," "plan," "anticipate,"
"intend," "believe," "estimate," "predict," "potential,"
"continue," and other expressions which are predictions of or
indicate future events and trends and which do not relate to
historical matters identify forward-looking statements. We believe
that it is important to communicate our future expectations to our
stockholders, and we, therefore, make forward- looking statements
in reliance upon the safe harbor provisions of the Act. However,
there may be events in the future that we are not able to
accurately predict or control, and our actual results, performance
or achievements may differ materially from the expectations we
describe in our forward-looking statements. Factors that could
cause or contribute to such differences include, but are not
limited to, the cyclicality and highly competitive nature of some
of our end markets, changes in the price of and demand for oil and
gas in both domestic and international markets, variability of raw
material and component pricing, fluctuations in foreign currency
exchange rates, and our ability to continue operating our
manufacturing facilities at efficient levels and to successfully
implement our acquisition strategy. We advise you to read further
about these and other risk factors set forth under the caption
"Certain Risk Factors That May Affect Future Results" in our SEC
filings. We undertake no obligation to publicly update or revise
any forward-looking statement, whether as a result of new
information, future events or otherwise. DATASOURCE: CIRCOR
International, Inc. CONTACT: Kenneth W. Smith, Chief Financial
Officer of CIRCOR International, Inc., +1-781-270-1200
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