ALMELO, Netherlands, Jan. 31, 2011 - Sensata Technologies Holding N.V. (NYSE: ST) (the "Company") announced today that various of its operating subsidiaries closed the previously announced acquisition of Honeywell's "Automotive on Board" sensors business on Friday, January 28.
The Automotive on Board products include cam and crankshaft, transmission, vane and turbo linear position sensors as well as wheel speed sensors that are produced and sold directly to automotive OEMs and tier 1 manufacturers around the world. Sales for this business in 2009 were approximately $100 million with expected sales in 2010 of approximately $130 million. The Company will refer to this as the Magnetic Speed and Position product family, or MSP, in all future communications.
Tom Wroe, Chairman and Chief Executive Officer of Sensata, said, "We are pleased to close the acquisition of Honeywell's Automotive on Board sensors business on schedule. With our expanded product offering and strong position in emerging markets, Sensata is poised for continued leadership in the global automotive sensors market by delivering a broad range of products that enable our customers to provide solutions to help the world's growing need for safety, energy efficiency and a clean environment."
About Sensata Technologies Holding N.V.
Sensata Technologies Holding N.V. is one of the world's leading suppliers of sensing, electrical protection, control and power management solutions. Majority-owned by affiliates of Bain Capital Partners, LLC, a leading global private investment firm, and its co-investors, Sensata employs approximately 10,000 people in nine countries. Sensata's products improve safety, efficiency and comfort for millions of people every day in automotive, appliance, aircraft, industrial, military, heavy vehicle, heating, air-conditioning and ventilation, data, telecommunications, recreational vehicle and marine applications. For more information, please visit Sensata's web site at www.sensata.com.
SOURCE Sensata Technologies Holding N.V.
Web Site: www.sensata.com