Dynics buys Ann Arbor Technologies
Ann Arbor, MI—Ann Arbor Technologies Corp. and Dynics Inc. report they’ve agreed to have Dynics purchase Ann Arbor’s assets and liabilities for an undisclosed sum.
Ann Arbor, MI— Ann Arbor Technologies Corp. and Dynics Inc. report they’ve agreed to have Dynics purchase Ann Arbor’s assets and liabilities for an undisclosed sum. The two firms plans to merge their operations, and the newly formed entity will use the Dynics name. The transaction is expected to close by the end of July 2005.
Ed Gatt, Dynics’ owner and president, will remain as company president. James Drenning and Rick Barnich, both principles and officers of Ann Arbor, will serve on Dynics’ corporate board and serve in executive positions at the new firm.
Dynics plans to support and promote Ann Arbor and Dynics’ product lines through their combined, existing distribution and representative channel of more than 50 firms. To accommodate their joint operations, the new company will move to a new 15,000 square-ft. office and manufacturing facility.
“This combination of two similar sized firms gives us an opportunity to not only gain economies of scale from increased size, operational efficiencies and lower production costs, but also position the company for future growth by offering a full product line of flat-screen industrial computers, touchscreen monitors, and system enclosures to the marketplace through our expanded distribution channel,” says Gatt. “In addition, the merger also allows us to take advantage of increased cash flows that can be used for additional product advertising and promotion, along with exploring additional markets outside of industrial automation that require rugged computers.”
Drenning, Ann Arbor’s president, adds that, “Our two companies are very complementary. Our product-based strategy offsets Dynics’ custom project based business and our joint employee skill sets fill gaps in both organizations. The combined product and resource strength of the two companies paves the way for future growth.”
Gatt adds that, “In the increasingly commodity-based marketplace of industrial computers, products and solutions are differentiated through the value they offer at a low price. By using a shared inventory and our in-house metal fabrication shop, we are able to lower production costs of existing systems to continue providing competitive pricing. In addition, we also add value by offering customized, turnkey solutions for any application that requires a NEMA rated industrial computer, monitor or enclosure system.'
Control Engineering Daily News Desk
Jim Montague, news editor