Trimble Acquires Engineering and Construction Accessories Company |
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Trimble Navigation Limited
935 Stewart Dr.
Sunnyvale, CA, 94085-3913
USA
Press release date: January 10, 2008
SUNNYVALE, Calif., Jan. 10 / -- Trimble (NASDAQ:TRMB) announced today it has acquired privately-held Crain Enterprises, Inc. of Mound City, Illinois, in an all-cash transaction. Crain is a leading manufacturer of accessories for the geomatics, surveying, mapping, and construction industries. Financial terms were not disclosed.
Crain's product lines include tripods, bipods, leveling rods, measuring rulers, prisms, prism and GPS poles, stream gauges, wire installation tools, as well as bags, packs, and sewn carrying cases for surveying and positioning instruments. The purchase of Crain allows Trimble to provide the necessary accessories that can be offered as part of its positioning solutions used in the Engineering and Construction markets. In addition, Crain and Trimble will be able to leverage distribution channels.
"Crain will enable us to augment our existing product lines by offering accessories as part of our solutions portfolio," said Jim Veneziano, general manager of Trimble's Construction Division. "Since accessories are often key to achieving total system performance, this acquisition will enable us to better satisfy user needs."
"We are pleased to become a part of Trimble," said Steve Crain, president and CEO of Crain Enterprises. "We have worked closely with Trimble over the years and we believe the acquisition is an ideal fit. The acquisition solidifies our best in class product position and gives us access to expand by leveraging Trimble's worldwide distribution channel."
Steve Crain and the staff of Crain Enterprises will join Trimble and operate as a wholly-owned subsidiary as part of Trimble's Engineering and Construction segment.
About Crain Enterprises, Inc. Founded in 1945 as a commercial warehousing business, Crain has become a leading manufacturer of measuring tools and geomatics accessories for the surveying and construction industries. The Company's products are available through more than 500 dealers throughout North America. For more information, visit: http://crainent.com/.
About Trimble's Engineering and Construction Business Trimble, a world leader in GPS, construction lasers, robotic total stations and machine control solutions, is creating a broad range of innovative solutions that changes the way construction work is done. The engineering and construction business of Trimble is focusing on the development of technology and solutions in the core areas of surveying, construction and infrastructure. From concept to completion, Trimble's integrated systems streamline jobs and improve productivity.
About Trimble Trimble applies technology to make field and mobile workers in businesses and government significantly more productive. Solutions are focused on applications requiring position or location-including surveying, construction, agriculture, fleet and asset management, public safety and mapping. In addition to utilizing positioning technologies, such as GPS, lasers and optics, Trimble solutions may include software content specific to the needs of the user. Wireless technologies are utilized to deliver the solution to the user and to ensure a tight coupling of the field and the back office. Founded in 1978 and headquartered in Sunnyvale, Calif., Trimble has a worldwide presence with more than 3,400 employees in over 18 countries.
For more information, visit Trimble's Web site at http://www.trimble.com/.
Source: Trimble
CONTACT: Investor Relations, Willa McManmon, +1-408-481-7838, willa_mcmanmon@trimble.com, or Media, Lea Ann McNabb, +1-408-481-7808, leaann_mcnabb@trimble.com, both of Trimble
Web site: http://www.trimble.com/ http://crainent.com/
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