CIRCOR Acquires Motor Technology, Inc.
Share:
BURLINGTON, Mass., May 21 - CIRCOR International, Inc. (NYSE:CIR) today announced that it has completed the acquisition of Motor Technology, Inc. of Dayton, Ohio a specialized manufacturer of electric motors and electromechanical equipment for the aerospace, defense, medical and transportation markets with annual revenues of approximately $5 million.
Motor Technology has been a leader for over 25 years in the design and manufacture of fractional horsepower DC motors, gear motors and brake motors. Motor Technology products can be found on commercial and defense aerospace applications, including the Boeing commercial family of aircraft, the F/A-22 Raptor and F-35 Joint Strike Fighter.
This acquisition will be part of the Company's CIRCOR Aerospace Products business unit which is a global leader in design, manufacture and test of complex aerospace and defense fluid controls, control and actuation systems and integrated landing gear assemblies. CIRCOR Aerospace has Manufacturing and Design centers in North America, Europe and Asia, producing aerospace products under the Circle Seal, LOUD, Aerodyne and Industria brand names.
Commenting on the transaction, Bill Higgins, Chief Executive Officer, CIRCOR International, stated: "Over the last 25 years, Motor Technology has developed an excellent reputation as a supplier of highly engineered and reliable DC electric motors and other components. These components complement our existing aerospace products and enhance our ability to offer electronic subsystems. We look forward to working with the employees to integrate Motor Technology into CIRCOR utilizing our Lean manufacturing business system."
CIRCOR International, Inc. is a global diversified manufacturer of valves, fluid control products and highly engineered components used by customers around the world in the energy, instrumentation, thermal fluid and aerospace markets. CIRCOR's executive headquarters are located at 25 Corporate Drive, Burlington, MA 01803.
FCMN Contact: curran.mccann@makinson-cowell.com
Source: CIRCOR International, Inc.
CONTACT:
Frederic M. Burditt,
Chief Financial Officer of CIRCOR International, Inc.,
+1-781-270-1200
