MILWAUKEE, April 7 /PRNewswire-FirstCall/ -- Brady Corporation (NYSE:
BRC), a world leader in identification solutions and precision die-cut
components, announced today that it has signed a definitive agreement to
acquire Tradex Converting AB, headquartered in Kungalv, Sweden. The
acquisition is subject to customary regulatory approvals.
Tradex is a leading manufacturer and supplier of pressure sensitive,
die- cut adhesive components for the mobile handset and electronics
industries. Founded in 1965, Tradex had fiscal 2005 sales of approximately
SEK 680 million ($90 million based on current exchange rates) and employs
about 1,000 people around the world. The company has manufacturing
operations in Sweden, China, South Korea and Brazil, and an extensive
sales, engineering, prototyping and service network with offices
strategically located in eight countries to support mobile handset
manufacturers' design centers.
Tradex's products are designed to provide exceptional joining, sealing,
shielding, insulation and protection in the manufacturing of mobile phones
and other hand-held communication devices. Its products include
precision-cut adhesives and protective tapes for lenses and liquid-crystal
displays; acoustic components including speaker cloths, meshes, adhesives,
cushions and gaskets; EMI shielding; and printed circuit board insulators.
"Brady has long been a supplier to the mobile phone industry,
manufacturing dozens of precision components for the world's leading cell
phone manufacturers. This is a market with strong compound annual growth
rates and rapidly changing requirements for advanced features and
functionality in mobile handsets. The combined breadth of solutions from
Brady and Tradex will provide customers with one source for the widest
array of precision die-cut parts and labeling solutions, while at the same
time focusing on the automatic assembly process to ensure the lowest total
cost solution," said Scott Hoffman, Brady vice president, global die-cut
operations.
"Ample capacity and responsiveness are two of the critical success
factors in the short life-cycle of mobile electronics. By combining our
resources, Brady and Tradex can ensure continued exceptional service in
both regards," said Hans Eriksson, Tradex president and chief executive
officer.
Brady's global die-cut business currently has manufacturing operations
in the United States, China, Singapore, Malaysia, Thailand, Brazil and
Germany. Its products include custom die-cut and precision specialty
materials for use in a wide range of products such as computer disk drives,
cellular phones, consumer electronics, and medical materials and
components.
Brady Corporation is an international manufacturer and marketer of
complete solutions that identify and protect premises, products and people.
Its products help customers increase safety, security, productivity and
performance and include high-performance labels and signs, safety devices,
printing systems and software, and precision die-cut materials. Founded in
1914, the company has more than 300,000 customers in electronics,
telecommunications, manufacturing, electrical, construction, education,
medical and a variety of other industries. Brady is headquartered in
Milwaukee and employs about 5,500 people in operations in the United
States, Europe, Asia/Pacific, Latin America and Canada. Brady's fiscal 2005
sales were approximately $816 million. More information is available on the
Internet at http://www.bradycorp.com .
This news release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995 -- that is,
statements related to future, not past events. In this context
forward-looking statements often address our expected future business and
financial performance, and often contain certain words such as "expect,
anticipate, intend, plan, believe, seek, will, or may." Forward-looking
statements by their nature address matters that are, to different degrees
uncertain. For us, uncertainties arise from future financial performance of
major markets we serve which include, without limitation,
telecommunications, manufacturing, electrical, construction, laboratory,
education, governmental, public utility, computer, transportation; future
integration of and performance of acquired businesses; fluctuations in
currency rates versus the US dollar; technology changes; interruptions to
sources of supply; business interruptions due to implementing business
systems; and numerous other matters of national, regional and global scale,
including those of a political, economic, business, competitive and
regulatory nature and those identified in reports we file with the SEC.
These uncertainties may cause our actual future results to be materially
different than those expressed in our forward-looking statements. We do not
undertake to update our forward-looking statements.
SOURCE Brady Corporation
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Related links:
http://www.bradycorp.com/
http://www.prnewswire.com/comp/952350.html/
CONTACT:
Investors, Barb Bolens, +1-414-438-6940, or
Media, Carole Herbstreit, +1-414-438-6882, both of Brady
Corporation
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