MTS Signs Agreement to Acquire SANS Group
Accelerates Expansion in China
EDEN PRAIRIE, Minn., April 29 - MTS Systems Corporation (NASDAQ:MTSC) today announced it has signed an agreement to acquire the assets of SANS Group (SANS), a leading provider of material testing solutions in China. The acquisition helps to accelerate MTS' strategy to grow geographically and strengthens the Company's leadership position in the worldwide materials market. The acquisition is expected to be completed by the end of September 2008.
"We are very excited about the SANS acquisition," said Laura B. Hamilton, CEO. "While MTS has a successful 30-year history in China, SANS' sales and service capability, product portfolio, and established customer base expands our ability to serve the increasing demand for testing solutions in China and worldwide. We believe MTS, together with the strength of SANS, will be a powerful combination."
The SANS Group, headquartered in Shenzhen, China, manufactures material testing solutions. Their products include electro-mechanical and static-hydraulic testing machines. Annual sales are approximately $25 million.
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 1,618 employees and revenue of $421 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,
Web site: http://www.mts.com/