Illinois Tool Works Inc. Purchases Quasar International, Inc.
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ALBUQUERQUE, N.M., March 12 // -- Illinois Tool Works Inc. (NYSE:ITW), a leading designer and producer of highly engineered components, equipment, consumable systems, and specialty products for customers around the world, announces the purchase of Quasar International, Inc., the inventor of PCRT (Process Compensated Resonant Testing), a revolutionary new NDT (Nondestructive Test) method. Quasar is located in Albuquerque, NM. Terms of the transaction were not disclosed.
Quasar will continue to operate as an independent company, which is consistent with the ITW decentralized organization structure. Quasar will be associated with MAGNAFLUX, a division of Illinois Tool Works Inc., a leading worldwide supplier of Magnetic Particle equipment, Dye Penetrant inspection equipment, and associated chemical products used for nondestructive testing. Quasar operations in Albuquerque and Detroit will remain essentially unchanged, and existing distribution and customer agreements will not be affected.
Steve Groeninger, general manager of MAGNAFLUX said, "MAGNAFLUX has been a leader in NDT since the company invented magnetic particle inspection 80 years ago. We plan to continue to be a leader in our industry for generations to come and the acquisition of Quasar will play a key role in that strategy. Quasar's PCRT is clearly the future of high volume NDT and we intend to help them realize their full potential."
Jim Schwarz, Quasar Business Unit Manager, commented on the purchase saying, "We are delighted to be an ITW company and to be a part of MAGNAFLUX. This acquisition is an endorsement of PCRT as a superior NDT method, and access to MAGNAFLUX infrastructure will allow us to provide better products, service and support to a wider group of customers."
Groeninger and Schwarz indicated that their immediate focus is on four goals.
o Maintain Quasar's customer relationships through continuity of Quasar
management and staff.
o Continue to advance the Quasar PCRT technology and product development.
o Expand the Quasar manufacturing and service infrastructure to improve
product availability and customer support.
o Position Quasar products within the MAGNAFLUX product line so that
Quasar's structurally based, high volume testing capability is
complemented by the existing Magnaglo®, Zyglo®, and Spotcheck®
product lines, enabling customers to choose the best method for their
application.
Quasar has delivered more than 100 PCRT systems to manufacturers in North America, Europe, and Asia. The systems are primarily used in the automotive industry where they provide superior NDT with significant cost savings, but they are also used in other industries where product quality is a primary concern.
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Source: Illinois Tool Works Inc.
