Rockwell Automation To Acquire ICS Triplex, a Leading Process Control Safety Solutions Provider

Business Press Releases Friday May 25, 2007 16:42
MILWAUKEE--(BUSINESS WIRE)--May. 24, 2007

Rockwell Automation, Inc. (NYSE: ROK) announced today that it has reached an agreement by which it will acquire Industrial Control Services Group Limited ("ICS") for GBP 110 million (British pounds) in cash. ICS trades and does business as ICS Triplex, a leading global supplier of critical control and safety solutions to process industries. With 40 years of experience, ICS Triplex develops, delivers and maintains advanced products and solutions for high availability, fault-tolerant applications in process industry segments worldwide.

ICS Triplex annual revenues are projected to be approximately GBP 70 million (British pounds) for their current fiscal year which ends May 31, 2007. Rockwell Automation expects the transaction to be slightly dilutive to earnings per share in the first full fiscal year and accretive thereafter.

Headquartered in Maldon, United Kingdom, ICS Triplex has more than 500 employees and operations across Europe, the Middle East, Asia and North America. ICS Triplex provides engineering services, products, and solutions for industries that demand high-integrity critical control. These industries primarily include oil and gas exploration, production, transportation, and refining as well as chemicals and power generation.

"With their industry expertise and strong customer relationships, ICS Triplex provides an important strategic fit for our rapidly expanding process control and safety solutions businesses," said Keith Nosbusch, chairman and chief executive officer of Rockwell Automation. "ICS customers in oil and gas and other process industries will benefit from the breadth of Rockwell Automation's product portfolio and solutions capabilities. It also allows us to incorporate ICS's high availability, fault-tolerant technology into the Logix architecture extending the reach of this technology into discrete and hybrid process applications."

Peter Mottershead, ICS Triplex chief executive, said: "For 40 years, ICS Triplex has provided fault-tolerant safety and critical control solutions to premier companies in the oil and gas industry. As we combine these capabilities with Rockwell Automation's 100 years of experience and strengths as a global leader in industrial automation control and information systems, it should enable us to grow our business and better serve our customers."

The process for acquiring ICS has started with an irrevocable undertaking from the owner of approximately 96 percent of ICS ordinary shares and the owner of 100 percent of ICS preference shares to accept this offer. Accordingly, by way of a United Kingdom public offer, Rockwell Automation expects, subject to the receipt of regulatory approval from the German Federal Cartel Office and the satisfaction of customary closing conditions, to acquire 100 percent equity interest in Industrial Control Services Group Limited. The transaction is expected to be completed during the third calendar quarter, 2007.

ICS Triplex will be included in the Control Products and Solutions operating segment.

This news release contains statements (including certain projections and business trends) accompanied by such phrases as "believe", "estimate", "expect", "anticipate", "will", "intend" and other similar expressions, that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, many of which are beyond our control, including but not limited to:

--   economic and political changes in global markets where we         compete, such as currency exchange rates, inflation rates,         interest rates, recession, policies of foreign governments and         other external factors we cannot control, and U.S. and local         laws affecting our activities abroad and compliance therewith;

--   successful development of advanced technologies and demand for         and market acceptance of new and existing products;
--   general global and regional economic, business or industry         conditions, including levels of capital spending in industrial         markets;
--   the availability, effectiveness and security of our legacy and         future information technology systems;
--   competitive product and pricing pressures;
--   disruption of our operations due to natural disasters, acts of         war, strikes, terrorism, or other causes;
--   intellectual property infringement claims by others and the         ability to protect our intellectual property;
--   our ability to successfully address claims by taxing         authorities in the various jurisdictions where we do business;
--   our ability to attract and retain qualified personnel;
--   the uncertainties of litigation;
--   disruption of our North American distribution channel;
--   the availability and price of components and materials;
--   successful execution of our cost productivity and         globalization initiatives; and
--   other risks and uncertainties, including but not limited to         those detailed from time to time in our Securities and         Exchange Commission filings.

These forward-looking statements reflect our beliefs as of the date of filing this release. We undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Rockwell Automation, Inc. (NYSE: ROK), is a leading global provider of industrial automation control and information systems and services that help manufacturers achieve a competitive advantage in their businesses. The company brings together leading brands in industrial automation, including Allen-Bradley controls and services and Rockwell Software factory management software. Headquartered in Milwaukee, Wis., the company employs about 19,000 people serving customers in more than 80 countries.

CONTACT: Rockwell Automation
John A. Bernaden
Media Relations
414-382-2555
or
Rockwell Automation
Tim Oliver
Investor Relations
414-382-8510

Latest Press Release

Herbalife Nutrition Presents Products with Thai Food Good Heart emblem at 23rd ASEAN Federation Congress of Cardiology (AFCC 2018)

Herbalife Nutrition, a premier global nutrition company whose purpose is to make the world healthier and happier, recently presented its Formula 1 Nutritional Protein Drink Mix products which were certified and allowed to use "Thai Food Good Heart"...

BSH Makes Debut of #Bosch Vario Style Refrigerator to Capture New Lifestyle Concepts

BSH, the leading global manufacturer of home appliances from Germany under the Bosch brand, is releasing its brand-new Bosch Vario Style fridge freezer with easily changeable color door panels of up to 19 alluring colors, backed by a perfect combination...

Nestle Celebrates its Success as the Food Beverage Company with the Highest Number of Certified Healthier Choice Products in Thailand in 2018

Mr. Victor Seah, Chairman and CEO of Nestle Indochina, announced the celebration of Nestle's success as Thailand's leading food and beverage company with a total of 44 products certified with the Healthier Choice logo – the highest number in...

Wednesday Special Drinks Promotion Buy 1 Get 1 Free

at Cafe Kantary Ayutthaya, Chiang Mai, Korat, Koh Yao Noi, Prachinburi and Rayong Every Wednesday in October 2018, 2 p.m.to 6 p.m., Cafe Kantary invites you to enjoy a drinks promotion: "Buy 1 Get 1 Free!" Come for drinks and get a free drink of equal or...

BSH releases the new Bosch Vario style the first freezer-fridge that express more itself

BSH, the leading global manufacturer of home appliances from Germany under Bosch, Siemens and Gaggenau, releases the new Bosch Vario style- First freezer-fridge combination with easiily changer colour door panels with 19 attractive colors, ranging from...

Related Topics