May 4, 2007 – Hexagon has entered into an agreement to acquire all outstanding shares of the American company Allen Precision Equipment, Inc. (www.allenprecision.com).
Allen Precision is primarily a catalogue company that represents several major suppliers and sells surveying equipment and related supplies to engineers, surveyors, contractors and government agencies.
Allen Precision had a turnover of over 24 MUSD in 2006 and has shown consistent growth exceeding the USA market growth for several years. The company is based in Duluth, Georgia and employs 41 people.
"The acquisition of Allen Precision is an important step in the overall NAFTA growth strategy in the core surveying and construction markets. Allen Precisions unique business model complements our current business model of local direct and distributor sales for our customers", says Ola Rollén, CEO and President of Hexagon AB.
Allen Precision will be consolidated as of 1 May 2007 and will immediately contribute to Hexagon’s earnings.
"Allen Precision will operate as a stand-alone company and will continue to operate as a full-service, multi-brand catalogue company. We expect that Allen Precision will continue to be the premier catalogue supplier to NAFTA customers in these key market segments", says Ola Rollén.
For further information please contact Sara Kraft, Investor Relations, at +46 8 601 26 27, ir@hexagon.se
About Hexagon
Hexagon AB is a global technology group with strong market positions within measurement technologies and polymers. Hexagon’s vision is to be number one or number two in each strategic business area. The group has about 8 000 employees in 30 countries and net sales of about 13 500 MSEK.