Schaffner Group to acquire WEE Electrotest

The Schaffner Group is to acquire WEE Electrotest, based in Wertheim (Germany).

The Schaffner Group is to acquire WEE Electrotest, based in Wertheim (Germany).

Schaffner expects the acquisition to have a positive impact on business in the current fiscal year (October 2001 to September 2002).

The two companies have agreed not to disclose the purchase price.

The integration of the WEE Electrotest Group will significantly strengthen the capabilities of Schaffner's test equipment business and expand its range of total solutions for test equipment in selected segments on a sustainable basis.

The access of WEE products to Schaffner's worldwide distribution network will open up additional opportunities for growth.

With the acquisition of WEE Electrotest the Schaffner Group is taking an important step towards balancing the contributions of its complementary businesses to overall revenues.

The WEE Electrotest Group reported net sales of CHF 21.0 million (EUR 14.3 million) for fiscal 2001.

It employs around 90 people in Germany, France, Italy, Holland and the USA.

WEE Electrotest has been developing and producing test equipment for cables and backplanes, as well as for electric and electronic subassemblies, at its operational headquarters in Wertheim for over 25 years.

WEE Electrotest's product offering ranges from straightforward standard products through to fully automatic client-specific solutions which can be integrated into medium- to large-scale series production processes.

For Schaffner, the acquisition of the WEE Electrotest Group represents a targeted investment in the test equipment business and an opportunity to expand its capabilities to include a complementary technology.

The fact that both companies have largely similar client portfolios in the aviation and telecommunications industries additionally increases the potential for synergies between the two groups, notably in the key sector of test equipment for use in power electronics.

Harnessing the technologies of Schaffner and WEE Electrotest will create scope for integrated solutions for test equipment, enhancing the Schaffner Group's capabilities as a total solution provider to, among others, the automotive suppliers market (eg 42V and x-by-wire technologies).

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