MTS Completes Acquisition of SANS Group
EDEN PRAIRIE, Minn., Oct. 2 -- MTS Systems Corporation (NASDAQ:MTSC) today announced that it has acquired the assets of SANS Group (SANS), a privately held company based in Shenzhen, China. The value of the transaction is approximately $43.6 million.
"SANS is an excellent strategic complement to our Test business," said Laura B. Hamilton, Chair and Chief Executive Officer. "Their capabilities will help to accelerate MTS' growth in China while also broadening MTS' product offering worldwide. Together, we are committed to building confidence in product performance in the global materials market."
SANS has manufacturing facilities in Shenzhen and Shanghai, China.
About MTS Systems Corporation
MTS Systems Corporation is a leading global supplier of test systems and industrial position sensors. The Company's testing hardware and software solutions help customers accelerate and improve their design, development, and manufacturing processes, and are used for determining the mechanical behavior of materials, products, and structures. MTS' high-performance position sensors provide controls for a variety of industrial and vehicular applications. MTS had 1,575 employees and revenue of $410 million for the fiscal year ended September 29, 2007. Additional information on MTS can be found on the worldwide web at http://www.mts.com/.
Source: MTS Systems Corporation
CONTACT:
Sue Knight,
Vice President and CFO
of MTS Systems Corporation,
+1-952-937-4000
Web site: http://www.mts.com/
