MTS Signs Agreement to Acquire SANS GroupMay 1, 2008
Acquisition of the material testing company accelerates MTS' expansion in China.
EDEN PRAIRIE, MN /PRNewswire-FirstCall/ -- MTS Systems Corp. (NASDAQ:MTSC) announced it has signed an agreement to acquire the assets of SANS Group (SANS), a leading provider of material testing solutions in China. The acquisition helps to accelerate MTS' strategy to grow geographically and strengthens the Company's leadership position in the worldwide materials market. The acquisition is expected to be completed by the end of September 2008.
"We are very excited about the SANS acquisition," said Laura B. Hamilton, CEO. "While MTS has a successful 30-year history in China, SANS' sales and service capability, product portfolio, and established customer base expands our ability to serve the increasing demand for testing solutions in China and worldwide. We believe MTS, together with the strength of SANS, will be a powerful combination."
The SANS Group, headquartered in Shenzhen, China, manufactures material testing solutions. Their products include electro-mechanical and static-hydraulic testing machines. Annual sales are approximately $25 million.
About MTS Systems
MTS Systems Corp. is a leading global supplier of test systems and industrial position sensors. The Company's testing hardware and software solutions help customers accelerate and improve their design, development, and manufacturing processes, and are used for determining the mechanical behavior of materials, products, and structures. MTS' high-performance position sensors provide controls for a variety of industrial and vehicular applications. MTS had 1,618 employees and revenue of $421 million for the fiscal year ended September 29, 2007.
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