PaR Systems Purchases Unidynamics |
(Archive News Story - Products mentioned in this Archive News Story may or may not be available from the manufacturer.)
PaR Systems, Inc.
707 County Rd. E West
Shoreview, MN, 55126-7007
USA
Press release date: June 13, 2006
Acquisition advances PaR Systems march into military markets
ST. PAUL, Minn. (June 13, 2006) - PaR Systems, Inc. announces today the acquisition of the assets of Unidynamics, Inc., a leading U.S. material handling and specialty equipment company, based in Conroe, Texas. The purchase was funded with capital from PaR Systems financial partner, American Capital Strategies (NASDAQ: ACAS).
Unidynamics joins Jered LLC, a wholly owned subsidiary of PaR Systems, to provide specialty material handling design, manufacturing, and service to the marine and military markets. Recently, Unidynamics made specialized handling equipment installed in military applications including the Littoral Combat Ship, the first of the U.S. Navy 's planned next-generation surface combatants.
"The acquisition of Unidynamics enhances PaR Systems' existing automation and material handling solutions and strengthens our support for military and commercial marine customers," said Rick Edger, Jered president and head of PaR Systems' military division.
PaR Systems purchased Unidynamics' assets from their section 363 bankruptcy sale process. PaR Systems plans to act quickly to complete Unidynamics' immediate projects before relocating the facility to Jered's Brunswick, Ga., location.
About PaR Systems
For 45 years, PaR Systems has provided automation and material handling solutions and remains focused on specialized robotics, material handling, and crane equipment applications to improve customer quality, safety and productivity. Headquartered in Shoreview, Minn., PaR Systems serves highly specialized industries including aerospace, marine, semiconductor, food and beverage, military, government, research, semiconductor, medical, laboratory and manufacturing. In August 2005, PaR Systems acquired the assets of Jered Industries, Inc. and expanded its automation and material handling expertise into the military and commercial marine industries. For more information, visit www.par.com .
About Unidynamics
Unidynamics, Inc. has designed and built innovative solutions and world-class equipment for material handling applications. These include applications for such markets as marine, offshore energy, hazardous materials, aerospace, pleasure cruise ships, and others requiring customized solutions.
Kim Wickline Principal PROPHET PR Office 763.263.3031 Mobile/Fax 612.987.5847
|
|
|
|
|
Newsletters |
Industry
Market Trends
Has Got It |
- Latest developments
- Trends
- Best practices
- Opinions & Commentary
|
 |
Get Ahead.
Get IMT.
Subscribe Free Today
Subscribe View
Sample |
Your Gateway to a Fast
Changing World
Product News Alerts |
 |
Receive similar stories and other customized
news to keep you in the know on the products shaping
industry. |
Subscribe Free Today
Subscribe View
Sample |
|
|
|
|
|
|
|
|
|
| 
