July 3, 2007 -- Rockwell Automation, Inc. announced today that it has acquired Industrial Control Services Group Limited which does business as ICS Triplex. As first announced on May 25, 2007, the deal is valued at GBP 110 million (British pounds) in cash. The process of delivering cash to ICS shareholders will continue through August, 2007.
ICS Triplex is a leading global supplier of critical control and safety solutions to process industries. Headquartered in Maldon, United Kingdom, ICS Triplex has more than 500 employees and operations across Europe, the Middle East, Asia and North America. 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. These industries primarily include oil and gas exploration, production, transportation, and refining as well as chemicals and power generation.
"This strategic acquisition significantly expands our broad portfolio of process control and safety solutions that meet the needs of both Rockwell Automation and ICS Triplex customers around the world," said Terry Gebert, vice president and general manager, Rockwell Automation Manufacturing & Process Solutions business.
"Increased demand for oil and gas due to the economic growth of China, India, Brazil and Russia is fueling investments in oil and gas production and in refining, leading to increased demand for safety systems," according to Asish Ghosh, Vice President ARC Advisory Group. "With the acquisition of ICS Triplex, Rockwell Automation will gain a strong foothold in the oil and gas, chemical, and power generation industries and will significantly improve their capabilities in the fast-growing process safety systems and services market."
ICS Triplex will continue to operate under its current brand name as a subsidiary of Rockwell Automation. It will be included in the Control Products & Solutions operating segment.
Source: Asia Pulse
Source: Factiva
