Actuant Corporation (NYSE:ATU) announced today that it has acquired T.T.
Fijnmechanica B.V. (?TTF?)
for approximately $20 million. Funding for the transaction came from the
Company's revolving credit facility.
Headquartered in Roermond, The Netherlands, TTF supplies products and
systems for use in the bridge building, infrastructure and heavy lifting
markets. Products include wedges, anchor heads, multi-strand jacks, and
heavy lifting systems. TTF generated approximately $10 million in sales
in 2006, and has approximately 30 employees.
TTF will operate within Actuant's Enerpac
business, which is part of Actuant's
Industrial Segment. Mark Goldstein, Executive Vice President of Actuant,
stated: ?TTF is a great addition to our global
construction and tensioning platforms. Its strong presence in the
European market is an excellent complement to our Precision Sure-Lock
business. The combination of Enerpac, Precision Sure-Lock, and TTF allow
us to provide solutions for the largest and most sophisticated
tensioning and heavy lifting projects on a global basis.?
About Actuant
Actuant, headquartered in Butler, Wisconsin, is a diversified industrial
company with operations in more than 30 countries. The Actuant
businesses are market leaders in highly engineered position and motion
control systems and branded hydraulic and electrical tools and supplies.
Since its creation through a spin-off in 2000, Actuant has grown its
sales from $482 million to over $1.3 billion and its market
capitalization from $113 million to over $1.3 billion. The Company
employs a workforce of more than 6,700 worldwide. Actuant Corporation
trades on the NYSE under the symbol ATU. For further information on
Actuant and its business units, visit the Company's website at www.actuant.com.
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