Jervis B. Webb Company Announces Acquisition of Mentor AGVS
Webb Company expands automatic guided vehicle capabilities
FARMINGTON HILLS, MICH., (March 20, 2006) - Jervis B. Webb Company - a world
leader in material handling solutions - today announced the acquisition of Mentor AGVS,
a supplier of Automatic Guided Vehicle (AGV) systems based in Warrensville Heights,
Ohio. Webb acquired Mentor AGVS from Formtek Metal Forming, Inc., a subsidiary of
Mestek, Inc. (NYSE:MCC). The terms of the transaction were not disclosed.
The addition of Mentor AGVS expands Webb's product line to include heavy-duty AGVs
that transport loads of up to 100 tons, diesel-electric powered vehicles, and outdoor
vehicles. The acquisition also enhances Webb's navigation technology offerings by
adding laser guidance to its proven wire and inertial guidance systems.
"The acquisition of Mentor AGVS solidifies Webb's position in the growing AGV market by
broadening our resources and applications," said Jonathan Ball, Webb's senior vice
president and CFO. "We now have the in-house design, engineering, and manufacturing
capability to provide a full range of AGV products for a variety of industries."
All key employees from Mentor AGVS have joined the Webb Company. Operations will
remain temporarily in Warrensville Heights, Ohio. Formtek Metal Forming will continue to operate from its facilities in Cleveland, Ohio, and focus on its core business of
designing and manufacturing superior metal forming equipment for the metal building,
flexible fabrication, fenestration industries, as well as general industrial roll forming.
As a result of the transaction, Webb has also entered into an agreement with Danaher
Motion SÄRÖ AB, the world's largest supplier of AGV navigation, positioning, guidance
and control technology. Under the agreement, Danaher Motion SÄRÖ AB's technology
will become available on Webb AGV products. Danaher Motion SÄRÖ AB is a part of
Danaher Motion, a leading global manufacturer of electromagnetic and mechanical
motion control solutions that help original equipment manufacturers (OEMs) build better
machines, faster. Danaher Motion is a subsidiary and a strategic business platform of
Danaher Corporation (NYSE:DHR).
Webb, which has been a leader in AGV technology for over 40 years, is unveiling its new
SmartLoader(TM) automatic trailer loading AGV at the Material Handling Industry of
America's NA 2006 trade show in Cleveland from March 27 to 30.
Jervis B. Webb Company's website is www.jervisbwebb.com.
The Formtek Group's website is www.formtekinc.com.
Danaher Motion's website is www.danahermotion.com.
Jervis B. Webb Company is a world leader in developing innovative material handling
technology and systems. The privately owned corporation specializes in the design,
engineering, installation and support of integrated systems used in the automotive,
airport, beverage, warehousing and manufacturing industries. Webb is headquartered in
Farmington Hills, Mich., with manufacturing locations in Michigan, South Carolina,
Canada, India, and China. The company was founded in 1919 by Jervis B. Webb who
invented the forged rivetless chain conveyor that helped revolutionize mass production.
Larry Jones
For Jervis B. Webb
248.855.6777
Rian Scheel
Formtek Metal Forming, Inc.
216-292-4460
