Leoni acquires Valentine Robotics, expands North American presence
JULY 6, 2009--Leoni (Nuremburg, Germany; www.leoni.com), a leading provider of cable systems to the automotive sector and other industries, has acquired all of Valentine Robotics (Sterling Heights, MI, USA; www.valentinerobotics.com) effective July 1, 2009.
JULY 6, 2009--Leoni (Nuremburg, Germany;www.leoni.com), a leading provider of cable systems to the automotive sector and other industries, has acquired all of Valentine Robotics (Sterling Heights, MI, USA; www.valentinerobotics.com) effective July 1, 2009. With the acquisition of this robotics specialist, Leoni is expanding its portfolio in the field of innovative, integrated system solutions with a high proportion of engineering and services for industrial robots as well as its position in the North American market.
Valentine Robotics specializes in programming and commissioning of industrial robots, turnkey solutions for image processing and measuring systems as well as related application training. The company was established in 1996 and in the past few years generated average sales of $2.5 million, with about 20 employees.
Leoni has significantly extended its robotics portfolio with this purchase. It comprises the assembly of complex umbilicals and dresspacks with pneumatic, hydraulic and electrical components, their robot-manufacturer-independent installation, preventive maintenance, and service, as well as production of various polyurethane hoses and special control and power cables.
"With our takeover and incorporation of Valentine Robotics into the Industrial Solutions business unit of the Wire & Cable Solutions division, we are broadening not only our footprint in North America, but also again our systems expertise," says Klaus Probst, president and CEO of Leoni AG. Leoni will settle the purchase price mostly with treasury shares.
Valentine Robotics serves customers in the car and robot manufacturing industries and also in the aviation, food production, metal processing, special machinery making, furniture production, and health care. Probst says this acquisition underpins Leoni's strategy of expanding the proportion of its business outside the automotive industry.
--Posted by Vision Systems Design,www.vision-systems.com