10th Jan 2005 11:00
Laird Group PLC10 January 2005 10 January 2005 LAIRD ANNOUNCES ACQUISITION OF CATERON CORPORATION The Laird Group PLC ("Laird") announces today the acquisition of CateronCorporation ("Cateron") for a cash consideration payable on completion ofNT$754 million (£12.6 million). Cateron is the leading supplier of EMI shielding fabric over foam gaskets andEMI tape to the global PC notebook market. Its management and operations will beintegrated with Laird Technologies, which is the global leader in EMI andcellular wireless antenna products and solutions and which has a growingpresence in the design and supply of thermal interface materials. Cateron designs, manufactures and sells its EMI products to meet the demandingcustomer requirements and specifications of both OEMs and ODMs from itsfacilities in Taipei, Taiwan and Kunshan, China. It also designs andmanufactures a specialist range of thermal interface materials. The existingmanagement and employees of Cateron will remain with the business. The acquisition of Cateron is a further step in Laird's strategy to be theglobal leader in its core markets and to have a direct presence in all of itskey market sectors and geographies. Cateron will provide Laird Technologies withgreater access to the PC notebook sector, and will also strengthen itsrelationships with Taiwan and China-based ODMs. Laird Technologies will provide Cateron and its customer base with significantlygreater product development and application engineering resources, as well as awider range of thermal management products and a full wireless antenna RFcapability. There is growing convergence of EMI shielding, thermal managementand antenna applications in the PC notebook market due to higher processorspeeds, greater power usage and the increasing complexity of antennarequirements caused by multiple bandwidths and wireless applications. In its audited accounts for the year ended 31 December 2003, Cateron hadoperating profits of NT$128.4 million (£2.3 million) and its operating profitsfor the 6 months to 30 June 2004 were ahead of the same period in 2003. Netassets which are the subject of the transaction were approximately NT$454million (£7.6 million) at 30 September 2004. The acquisition is subject toTaiwanese regulatory approval and completion is expected by the end of January2005. Kenneth Yang, founder and CEO of Cateron, said: "Cateron has developed a very strong position in the PC notebook market and withTaiwan and China-based ODMs. The management of Cateron and I are excited to bejoining Laird Technologies, and by the opportunity to supply our customers withboth a wider range of EMI and thermal products and a full RF antennacapability." Peter Hill, CEO of Laird, said: "The acquisition of Cateron is a continuation of our strategy to be the globalleader in our core markets and to have a direct presence in all our key marketsectors and geographies. This acquisition strengthens our position in theimportant PC notebook market, and will allow us to exploit the increasingconvergence between EMI shielding, thermal management and antenna applicationsin that market. The growing presence of our customers' engineering, design anddevelopment activities in both Taiwan and China also offers furtheropportunities for Laird Technologies." Contacts: The Laird Group PLC+44 (0)20 7468 4040Peter Hill, Chief ExecutiveJonathan Silver, Finance Director The Maitland Consultancy+44 (0)20 7379 5151Brian Hudspith / Charlotte Barker NOTES FOR EDITORS: The Laird Group PLC The Laird Group PLC is a leading electronics and security systems group withoperations in North America, Europe and across Asia, employing over 8,500people. Laird is headquartered in London and is listed on the London stockexchange (LARD.L). Further information on The Laird Group is available from itswebsite, www.laird-plc.com. Laird Technologies Laird Technologies is the global market leader in Radio Frequency (RF)management in electromagnetic interference ("EMI") shielding and antennaproducts and solutions which are used by the computer, telecommunications,consumer products, aerospace, defence, general electronics, medical equipmentand automotive industries. Laird Technologies is building a complementarybusiness in thermal management products and solutions, and is now able toprovide global electronic Own Equipment Manufacture ("OEM") and Own DesignManufacture ("ODM") companies with complete RF, EMI and thermal managementsolutions. Cateron Corporation Cateron was founded by Kenny Yang in 1993 and he remains the majorityshareholder until the completion of the acquisition by Laird. Cateronpredominantly manufactures EMI shielding products such as fabric over foamgaskets and EMI tape, and is the leading supplier of these products andsolutions to the global PC notebook market. Cateron operates from facilities inTaipei, Taiwan and Kunshan, China and has 280 employees. Taiwanese design andtechnology have traditionally dominated the global PC notebook market and theinfluence of Taiwanese ODMs is growing in other electronic products. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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