GOLDEN VALLEY, Minn .— December, 14 2005 – Pentair Electronic Packaging, comprised of market-leading Schroff® and Taunus™ product brands, is increasing its system integration capabilities through the addition of Electronic Solutions and its Birtcher product line. Together, these two brands provide greater depth in the company’s new product design and system integration services in the electronic packaging and enclosures markets.
The addition of Electronic Solutions and Birtcher to Pentair Electronic Packaging is a part of Pentair, Inc.’s (NYSE: PNR) larger acquisition of the Electronic Solutions, McLean Thermal Management and Aspen Motion Technologies businesses from APW, Ltd. The acquisition, completed December 1, 2005 represents part of the growth strategy for Pentair’s Enclosures Group, a global leader in the design and manufacture of standard, modified and custom electronic enclosures that house and protect sensitive electronics and electrical components in the telecom, datacom, medical and security markets.
Commenting on the strength of his newly enlarged business, Bill Biancaniello, president of Pentair Electronic Packaging said, “With the Electronic Solutions and Birtcher brands joining our world-leading Schroff brand of enclosure products, our business is well positioned for growth in the electronic packaging and enclosures markets, particularly in the rapidly growing AdvancedTCA™ segment. This acquisition provides a West Coast design and manufacturing facility to compliment our New England, Mid-West, Mexico , and Brazilian operations, and a greater range of products, custom engineered solutions and system integration capabilities for our customers.”
Pentair Electronic Packaging ( www.pentair-ep.com ) is a world-leading provider of standard and custom electronic enclosure solutions to top manufacturers in many diverse markets, including medical, security/military, datacom and telecom, as well as various other Electronic OEMs. The company’s extensive product range offers the highest level of quality and aesthetics available in the market today, from complex, progressive-tooled sheet metal components to leading edge, fully integrated AdvancedTCA systems. With ISO 9001-2000 certified manufacturing facilities, Pentair Electronic Packaging uses seamless communications platforms throughout its operations to design, manufacture, assemble, and test products, and manage logistics throughout the supply chain.
Pentair (www.pentair.com) is a diversified operating company headquartered in Minnesota . In addition to the Enclosures Group, the company operates the Water Group, a global leader in providing innovative products and systems used worldwide in the movement, treatment, storage, and enjoyment of water. Pentair had 2004 revenues from continuing operations of $2.28 billion, or $2.76 billion on a pro forma basis. The company has approximately 13,000 employees worldwide.
This press release contains statements that Pentair believes to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including any statements about Pentair’s anticipated sales, earnings, synergies or other results or expected benefits of the acquisition of these businesses. These forward-looking statements generally can be identified by the use of words such as “believes,” “anticipates” or “expects,” or words of similar import. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from those currently anticipated, including the company’s ability to successfully integrate the operations of these businesses, and the risk that expected synergies may not be fully realized or may take longer to realize than expected. Forward-looking statements included herein are made as of the date hereof and Pentair undertakes no obligation to update publicly such statements to reflect subsequent events or circumstances.
Contacts:
Pentair Electronic Packaging:
George B. Ross
Communications
Tel : (401) 535-4810
E-mail : [email protected]
Pentair:
Rachael Jarosh
Tel: (763) 656-5280
E-mail: [email protected]
Mark Cain
Tel.: (763) 656-5278
E-mail: [email protected]