Product category:
Manufacturing dealerships, agencies and acquisitions
News Release from: StarragHeckert UK
Edited by the Manufacturingtalk Editorial
Team on 17 February 2006
StarragHeckert acquires Swiss SIP
company
StarragHeckert has acquired all assets of the Swiss high-precision machine tool builder, SIP (Societe Instruments Physiques) in Geneva, Switzerland, and its subsidiaries American SIP and SIP China.
StarragHeckert has acquired all assets of SIP (Societe Instruments Physiques SA) in Geneva, Switzerland, and its subsidiaries American SIP and SIP China SIP can look back to a long tradition as a renowned manufacturer of ultra-precise machine tools and coordinate measuring systems for customers in the aerospace and precision machine building industry
This article was originally published on Manufacturingtalk on 9 Dec 2002 at 8.00am (UK)
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"We are excited to welcome SIP to StarragHeckert", said Dr Frank Brinken, President and CEO of StarragHeckert.
"SIP serves identical target markets and customers in the aerospace industry, transportation and precision machine building.
The acquisition of SIP is a key element in StarragHeckert's continued expansion of products and services for its served markets." SIP's machining centres are positioned in a precision class even above the existing StarragHeckert high precision product range.
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The integration of SIP, founded in 1862 in Geneva, will further strengthen the market position of the entire StarragHeckert group.
This merger will lead to synergies in the research and development, sales, customer services, supply chain and administration.
The sales and service companies of StarragHeckert and SIP in the USA and in China will merge shortly under a common management.
Up to 40 employees of SIP will be reemployed by StarragHeckert and thus their know-how transferred.
StarragHeckert has signed a long-term lease for the existing high-tech manufacturing property and will continue the production and assembly of ultra-precise machining centres in Geneva.
The terms of the transaction will not be disclosed.
For 2006, a sales revenue of about CHF 8 million is planned.
StarragHeckert globally provides a comprehensive range of technologically advanced precision milling machines, as well as productivity enhancing software and engineering solutions, engineering and process optimisation projects and a wide range of special tools for customers in the aerospace, energy, automotive and machine building industry.
The company brings to bear a more than 100 years old heritage of technological innovation to help its customers to be more productive, efficient, precise and innovative.
StarragHeckert includes production plants in Chemnitz, Germany (Heckert); Rorschacherberg, Switzerland (Starrag); Geneva, Switzerland (SIP) and Aylesbury, UK (TTL), as well as sales and service companies in China (Beijing and Shanghai); USA (Cincinnati, KY, and Laguna Hills, CA); France, the UK and Russia.
The shares of StarragHeckert (symbol: STGN) are quoted at the Swiss Stock Exchange (SWX).
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