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| 2007
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Sensata Technologies Inc. to acquire Airpax Holdings Inc. | June 14th 2007 |
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Acquisition solidifies Sensata’s position as a leading global supplier of sensors and controls
ATTLEBORO, MA – June 14, 2007 – Sensata Technologies, Inc., a leading designer and manufacturer of sensors and controls, today announced that it has reached a definitive agreement with Chicago Growth Partners and Airpax senior management to acquire Airpax Holdings, Inc., a manufacturer of components and systems for power protection, sensing and control applications. The $276 million purchase, which is expected to be completed in July, affirms Sensata’s position as a leading global supplier of sensors and controls across a broad array of markets and applications.
Headquartered in Cambridge, Maryland, with facilities around the world, Airpax is the leading worldwide manufacturer of customized hydraulic magnetic circuit breakers and certain thermostats and temperature sensors, and is a leading manufacturer of DC to AC inverters, electronic monitoring and control systems, and other sensors. Airpax serves original equipment manufacturers (OEMs) in the telecommunications, industrial, recreational vehicle, heating, ventilation and air-conditioning, refrigeration, marine, military, medical, information processing electronic power supply, power generation, over-the-road trucking, construction, agricultural and alternative energy markets.
The acquisition includes about 2,800 employees and sales, engineering and production facilities in Cambridge and Frederick, Maryland; White Bear Lake, Minnesota; Oviedo, Florida; and Brownsville, Texas, in the United States; Matamoros, Mexico; Sakado, Japan; and Shanghai, China.
Sensata Technologies Chief Executive Officer Tom Wroe said, “This transaction gives us leading customer positions in electrical protection for high-growth network power and critical, high-reliability mobile power applications and further secures Sensata’s position as a leading designer and manufacturer of sensing and electrical protection solutions for the residential, industrial, heating, ventilation, air-conditioning, military and mobile markets. The purchase also further expands Sensata’s global footprint and offers opportunities for operational synergies across both organizations.”
Airpax Chief Executive Officer Dennis Karr said, “We are very excited about this opportunity to bring our expertise, experience and resources to another worldwide leader in the controls and sensors arena. Both Airpax and Sensata will benefit from access to an expanded customer base, wider portfolio and the know-how and technical expertise of the combined organization.”
Airpax Corporation was founded in 1947 in Baltimore, Maryland, and was purchased by North American Phillips Corporation in the 1970s. It was purchased by management and Industrial Growth Partners, a private equity firm, in 1999 and by management, Chicago Growth Partners, and Norwest Equity Partners in 2004.
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About Sensata Technologies
Sensata Technologies is a designer and manufacturer of sensors and controls for leaders in the global automotive, appliance, aircraft, industrial and HVAC markets. Formerly the Sensors & Controls business of Texas Instruments, Sensata became an independent entity in April 2006 and currently employs 6,500 people at facilities in Brazil, China, Japan, Korea, Malaysia, Mexico, the Netherlands and the United States as well as sales offices around the world. Its revenues for the year ending 2006 were approximately $1.2 billion.
For more information, please visit our web site at: www.sensata.com
Safe Harbor Statement
This press release contains forward–looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Forward–looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in such statements. The principal risks and uncertainties include, but are not limited to: changes in general economic conditions; our ability to operate as a stand-alone company, including remediation of identified weaknesses in our internal controls over financial reporting and implementation of our own information technology systems without disruption to our business; increases in labor and material costs and nonperformance by our suppliers; increased competition in the key markets in which we operate; our ability to develop and protect intellectual property and know-how; interest rate and foreign currency changes and various other risks associated with our non-U.S. operations; the threat of material costs associated with product liability, warranty and recall claims; our ability to integrate acquired businesses, including our ability to realize synergies related to our integration of acquisitions; changes in tax laws in the jurisdictions where we operate; and the risk that the interests of our sponsors may conflict with those of the holders of our notes. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak to results only as of the date the statements were made; and we undertake no obligation to publicly update or revise any forward-looking statements, whether to reflect any future events or circumstances or otherwise. For a discussion of potential risks and uncertainties, please refer to the risk factors listed in our SEC filings. Copies of our filings are available from our Investor Relations Department or from the SEC website, www.sec.gov.
Media Contact:
Linda Megathlin
508-236-1761
lmegathlin@sensata.com |
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NXTcomm 2007 Trade Show | All Airpax Divisions | June 19th - 21st 2007 |
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Posted: May 14th, 2007
Airpax will be exihibiting at the NXTcomm 2007 trade show (formerly Globalcomm) in Chicago, IL in June :
Booth # 6831
McCormick Place (Convention Center)
2301 S. Lake Shore Drive
Chicago IL, USA
Visit the NXTcomm website for more info on NXTcomm 2007. |
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Sensors Expo 2007 Trade Show | All Airpax Divisions | June 12th - 13th 2007 |
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Posted: May 14th, 2007
Airpax will be exihibiting at the Sensors Expo 2007 trade show in Rosemont, IL in June :
Booth # 1034
Donald E. Stephens Convention Center
5555 N River Rd
Rosemont, IL
Visit the Sensors Expo website for more info on Sensors Expo 2007. |
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| 2006
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Airpax acquires Sanken-Airpax Co., LTD | All Airpax Divisions | October 2, 2006 |
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Posted: October 2nd, 2006
Airpax Acquires All of Japanese Joint Venture Sanken-Airpax Co., Ltd. Now Wholly-Owned by Airpax Corporation
Cambridge, MD – October 2, 2006 –Airpax Corporation, a leading worldwide manufacturer of protection, sensing, and control components, modules, and systems, today closed a transaction with its Japanese partner, Sanken Electric Co., Ltd., for the redemption of the latter’s shares corresponding to 50% ownership of their joint venture, Sanken-Airpax Co., Ltd. (Sakado-shi, Saitama-ken, Japan), leaving Airpax as the sole shareholder of Sanken-Airpax. Under the terms of the agreement, Airpax is now the sole owner of the enterprise, which will be renamed Nihon Airpax Co., Ltd. Financing for the transaction was facilitated by Chicago Growth Partners, Norwest Equity Partners and Airpax management.
Sanken-Airpax was established in 1968 by Sanken Electric and Airpax to manufacture hydraulic magnetic circuit protectors in Japan. The company later expanded into the production of speed and position sensors, quick-action fuses, thermostats and other sensing and protection products. Today the company is a leading manufacturer of circuit breakers for equipment protection in Japan, with a growing worldwide demand for its products. Sanken-Airpax products can be found in a variety of applications including power supplies, automotive applications, industrial equipment, photovoltaic and fuel cell power systems, telecom, factory automation, heavy construction equipment and agricultural equipment, computer applications, medical equipment, and railway systems.
Sanken-Airpax and Airpax currently participate in many complimentary markets, including power supplies, industrial equipment, photovoltaic and fuel cell power systems, telecom, heavy construction equipment and agricultural equipment, and computer applications. In every market served by Sanken-Airpax, there are numerous synergies with other Airpax business units, including Airpax Power Protection Products, Airpax Sensors and Control Systems, and Airpax Dimensions, which can be fully developed through Airpax Corporation’s extensive global organization.
Mr. Tomokazu Takahashi, formerly Vice President and Representative Director representing Airpax in the joint venture, now becomes President and Representative Director. Mr. Takahashi will report to Dennis Karr, President and CEO of Airpax Corporation.
“We enjoyed an excellent relationship with Sanken Electric for 38 years, and our joint venture served us both well. Now, the combined complimentary strengths of Airpax and Sanken-Airpax will expand our offering of technologies, products, and services for our global customer base. Sanken-Airpax and Airpax Power Protection Products are both leaders in the field of hydraulic magnetic circuit breakers, and bringing these companies together now will significantly advance our presence in that market. In addition, I am very enthusiastic about the position that Sanken-Airpax has developed in the photovoltaic and fuel cell markets in Japan. Applications in these markets represent strong growth opportunities in clean energy for the future", said Mr. Karr. |
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Airpax Acquires Dimensions Unlimited | Airpax PPP | July 5th, 2006 |
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Posted: July 5th, 2006
Strengthens Power Management Positioning in Mobile Equipment and Alternative Energy
Cambridge, MD – June 30, 2006 –Airpax Corporation, a leading worldwide manufacturer of protection, sensing, and control components, modules, and systems, today announced its acquisition of Dimensions Unlimited. Equity financing for the acquisition was provided by Chicago Growth Partners, Norwest Equity Partners and management. Dimensions Unlimited, located in White Bear Lake, MN, is a leading manufacturer of power inverters that convert DC power, typically provided by a battery, to AC power. DC to AC power inverters are increasingly becoming the products of choice for operating sophisticated electronic equipment when grid power is not available. Dimensions Unlimited offers a complete line of reliable, efficient inverters capable of powering any type of equipment within their power rating. Dimensions Unlimited units can be found in a variety of applications including utility and service trucks, scissor lifts, traffic signal, home, and business power backup systems, steel mills, railroad locomotives, U.S. military, marine and recreational vehicles.
Dimensions Unlimited and Airpax currently participate in many complimentary markets, including work trucks, recreational vehicles, marine and military. As such, the combination of the two businesses will result in numerous exciting synergies with all of the Airpax business units, including Airpax ED&D’s leading-edge E-Plex monitoring and control technology, Airpax power protection products and Airpax sensors and temperature controls, which can be fully developed through the company’s extensive global organization.
Dimensions Unlimited is now part of the Airpax Power Protection Products division. Dennis Getter, President of Dimensions Unlimited, will continue to lead the company. Mr. Getter will report to Steve McDonald, President of the Airpax Power Protection Products division. All of Dimensions Unlimited’s current operations in White Bear Lake, MN, will continue.
“Dimensions Unlimited’s strong market position in utility and work trucks establishes a strong foundation for growth, and their growing participation in recreational vehicles, military applications and traffic signals presents a very strong future for this company,” according to Mr. McDonald. “We are very excited to partner with Dennis Getter and we believe that the combined strength of Airpax and Dimensions significantly advances our strategy of building a broader, more synergistic offering of products and services for our global customer base.”
Dennis Getter stated, “Dimensions Unlimited focuses on high quality inverters that provide strong, steady, and clean AC power. The future looks very bright for the combination of Dimensions Unlimited and Airpax. The two companies exactly match in our company philosophies of always providing superior products and outstanding customer service, with the highest degree of ethical behavior.”
Visit the Dimensions Unlimited website for more information on products. |
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Airpax Creates Sensors & Control Systems Division | Airpax SCS | June 13th, 2006 |
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Posted: July 5th, 2006
Division Formed through Merger of Thermal Sensing Products, Airpax ED&D Units
Frederick, MD – June 13, 2006 –Airpax Corporation today announced the merger of its Thermal Sensing Products (TSP) Division with Airpax ED&D, the recently-acquired developer of E-Plex monitoring and control technology. The new operating division will be called Airpax Sensors and Control Systems (SCS). It will be led by Vice President and General Manager Brent Hollenbeck.
Airpax SCS will be headquartered in Frederick, Maryland. All existing operations in Oviedo, Florida and Matamoros, Mexico will be maintained. Airpax will continue to grow and expand its thermostat and temperature sensor businesses. Existing TSP customers will receive the same meticulous attention as in the past, but will now be presented with an even more complete line of products, technology, and solutions.
“Airpax ED&D’s leading-edge technology will create many opportunities for growth for Airpax,” said Airpax CEO Dennis Karr. “Via acquisition, partnering and internal product development, Airpax is building a broader, more synergistic offering of products and services for our global customer base. The merger of TSP and ED&D advances that strategy. Airpax customers have responded very positively to the E-Plex technology. When combined, the strengths of TSP and ED&D create a very exciting, potent organization focused on bringing new technology and greater value to Airpax customers.”
The reorganization lends the capabilities of the larger Thermal Sensing Products business to support the growth of the E-Plex technology and product line. Existing TSP sales, customer service, engineering, manufacturing and purchasing resources will be expanded to support both TSP and ED&D . Likewise, research and development capabilities within Airpax ED&D will be focused on product development initiatives that benefit both ED&D customers and the TSP customer base.
“The vision for the new Airpax SCS is simple,” said Brent Hollenbeck VP & General Manager of the new Airpax SCS. “We believe that innovative sensing and control technologies can make vehicles, equipment and buildings better. By better we mean
more efficient, friendlier to the environment, easier to operate, more capable, less expensive and easier to maintain. With this strategic realignment of resources, this work can be further accelerated.” |
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2006 Trade Shows | All Airpax Divisions | October & November 2006 |
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Posted: July 5th, 2006
Come visit Airpax at the following shows during the second half of 2006:
October 20th - 22nd
LDI 2006
Booth # 731
Las Vegas Convention Center
3150 Paradise Road
Las Vegas Nevada 89109
Visit the LDI website for more info on LDI 2006. |
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November 1st - 3rd
IBEX 2006
Booth #317
Miami Beach Convention Center
1901 Convention Center Drive
Miami Beach, Florida 33139
Visit the IBEX website for more info on IBEX 2006. |
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November 14th - 17th
ELECTRONICA
hall C4 stand C4-241
Neue Messe München
(New Munich Trade Fair Centre)
Munchen (Munich), Germany
Visit the Electronica website for more info on Electronica 2006. |
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Globalcomm 2006 Trade Show | All Airpax Divisions | June 5th - 8th 2006 |
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Posted: June 12th, 2006
Airpax displayed at booth 43015 for Globalcomm 2006 trade show at McCormick Place, Chicago Illinois.
New products on display included North Shore Safety ground fault circuit interrupt products (GFCI / ELCI) and the new ATR 20 Series, a 20 amp thermal circuit protector.
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NOTICE: Pricing Increase to Customers | All Airpax Divisions | May 2006 |
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Posted: May 18th, 2006, by Dennis Karr, President & CEO, Airpax Corporation
"I am extremely concerned about the recent trends in futures prices for precious metals, especially gold and silver, and commodity metals, especially copper. All of our electromechanical and electronic sensors, protectors, and controls include critical components made from these metals, and alternate substitutes with the same level of performance are simply not available.
Gold futures are now at a level that hasn't been seen since October 1980, and silver futures have reached a 23-year high. And we haven't reached the peak -- experts are warning that gold and silver prices will go much higher. Copper futures have reached a record high, topping $8,000 a ton for the first time in history, and industry experts are predicting that prices will continue to increase to $9,000 a ton. High speculative investment demand for copper, high demand for copper by the Chinese market, and the closure of a Mexican copper and zinc mine due to a strike have all sent the price of copper soaring.
We have no choice but to increase our prices to pass along these unprecedented cost increases. We will announce further details as they become available." |
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Introducing the ATR 20 Series | Airpax PPP | March 2006 |
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Posted: March 29th, 2006
The new ATR 20 Series is a thermal circuit protector designed for a higher nominal current and higher interrupt current for more demanding applications.
For more information, please visit the "Circuit Breakers & Circuit Protectors " section.
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Ground Fault Products from NSS | Airpax PPP | March 2006 |
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Posted: March 15th, 2006
In an exclusive business relationship agreement with North Shore Safety LTD., Airpax Corporation will now provide our customers with LINEGARD® ground fault circuit interrupters (GFCI), equipment leakage circuit interrupters (ELCI), and ground fault sensing modules.
For more information, please visit the "Ground Fault Circuit Interrupters" section.
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| 2005 : |
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ETS-LDI 2005 | Orange County Convention Center, Orlando, FL | November 11th - 13th, 2005 |
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Posted: August 26th, 2005
Airpax displayed at booth #564, for the Entertainment Technology Week featuring sound, vision and lighting technologies.
Orange County Convention Center
Booth #564 (left-center from entrance, 3/4 of the way back from the entrance)
9800 International Drive
Orlando, Florida 32819
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Airpax ED&D featured in boating magazines | October 31st, 2005 |
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Posted: Nov. 9, 2005
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In the October/November 2005 issue of Professional BoatBuilder , Nigel Calder writes, “ED&D…has what is almost certainly, at the present time, the most fully developed distribution-power system for boats.” Read more. |
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In the August 2005 issue of Power & Motoryacht , Ben Ellison writes, “ED&D is turning heads in the world of system monitoring and control with a wide portfolio of sensors and touch screen displays that talk to each other over a simple two-wire network using its E-Plex protocol.” Read more. |
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IBEX
2005 | Miami
Beach Convention
Center, Miami,
FL | October
19th - 21st,
2005 |
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Archived October
31st, 2005
Posted: August
26th, 2005
Airpax officially
launched our new E-Plex
modules at
the IBEX 2005 in
Miami. For
more information,
visit our product
areas to review
our products.
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Website
Upgrades | airpax.sensata.com | September
13th, 2005 |
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Archived October
31st, 2005
Posted:
September 13th,
2005
Airpax Corporation
today introduced
its newly redesigned
company website
at airpax.sensata.com.
The new site
highlights Airpax’s
evolving line
of sensing, protection,
and control technologies
and improves
information flow
to customers.
Developed internally
by Airpax communications
specialists,
the revised website
is more intuitive,
easier to navigate
and more accessible
by search engines.
It features a
fresher, high-tech
look, and incorporates
a new color scheme
designed to reinforce
a more uniform
public market
presence.
For the first
time, the site
includes a new
internal search
engine for easy
location of Airpax
TSP, PPP and
ED&D products
and services.
In addition,
the product pages
have been developed
to allow users
to easily scan
the important
details of each
product series,
as well as provide
product-specific
links to download
each product’s
sales sheet or
brochure as an
Adobe PDF.
Airpax contact
information has
also been revamped,
providing the
customer with
a centralized
location to find
information on
all of the Airpax
divisions. Customers
can visit this
area to find
facility locations,
customer service
and technical
assistance contacts,
and Airpax representatives
and distributors.
The area also
enables users
to submit online
requests directly
to Airpax.
The Airpax ePartner
Gateway for OEM
customers has
been maintained,
allowing OEM
customers the
ability to access
and view existing
orders, obtain
pricing, and
check shipments.
Airpax sales
reps and authorized
distributors
have also been
linked to their
respective secure
sites, allowing
each of them
to view their
orders, get pricing,
and review the
latest Airpax
training collaterals. |
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Airpax
acquires ED&D
Inc. | Oviedo,
FL | July
11th, 2005 |
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Archived October
31st, 2005
Posted: July
11th, 2005
Airpax Corporation
today announced
its acquisition
of ED&D Inc.
of Oviedo, Florida.
Established in
1985, ED&D
is the developer
of the E-Plex
monitoring and
control technology.
As a division
of Airpax, ED&D
will be named
Airpax ED&D.
The E-Plex
product line
includes a family
of sensors, controls,
data modules
and display panels.
These products
integrate into
a seamless monitoring
and control solution
for complex equipment.
Powered by a
patented, multiplexing
technology that
allows power
and data to be
transported over
a simple, two-wire
bus, E-Plex offers
scalable, flexible
solutions at
competitive costs.
The E-Logic
Suite is a set
of software design
tools provided
to customers.
This suite allows
them to generate
an E-Plex solution
that can be configured
and tested very
quickly, reducing
design cycles
and time to market.
E-Logic documents
the system and
even provides
a costed bill
of materials
once the design
is completed.
E-Plex is marketed
to the boating,
yachting and
motor coach industries.
In a typical
application,
E-Plex can control
and monitor tank
levels, generators,
engines, air
conditioning,
hydraulics, GPS,
security and
multimedia, or
lighting. |
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Airpax
launches new
products at Supercomm
2005 | McCormick
Place, Chicago,
IL | June
6th - 9th, 2005 |
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Archived:
June 15th, 2005
Posted: June 1st,
2005
Airpax officially
launched our new
circuit
breakers,
switches, speed
sensors, and fuses at the Supercomm
2005 and Sensors
2005 trade shows
in Chicago. For
more information,
visit our product
areas to review
our products.
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