Siemens Canada to acquire Milltronics

Siemens Canada Ltd. announced on Jan. 21 it will make a $335 million (Canadian) offer to acquire all outstanding common stock shares of Milltronics Ltd. (Peterborough, Ontario, Canada). The all-cash bid of $21 per share for each of Milltronics' 16 million common shares represents a 76% premium over the stock's closing price on Jan.

02/01/2000


Siemens Canada Ltd. announced on Jan. 21 it will make a $335 million (Canadian) offer to acquire all outstanding common stock shares of Milltronics Ltd. (Peterborough, Ontario, Canada). The all-cash bid of $21 per share for each of Milltronics' 16 million common shares represents a 76% premium over the stock's closing price on Jan. 20, 2000. Siemens Canada's formal offer was expected to be made on or before Feb. 4, 2000, and is scheduled to close no later than May 30, 2000. Milltronics' board of directors has unanimously agreed to support the offer. Milltronics specializes in ultrasonic level measurement technology for process automation. It has annual sales of $119 million and operates in 12 countries. This proposed acquisition is part of Siemens' recent strategy to enhance its position in the process automation and instrumentation markets. This acquisition by Siemens Canada follows a Jan. 21 offer by Siemens Energy & Automation Inc. (Alpharetta, Ga.) to acquire Moore Process Automation Solutions (Spring House, Pa.) for $170 million. Siemens Canada and Siemens Energy & Automation are both subsidiaries of Siemens AG (Munich, Germany). [For more on Siemens' Moore Process Automation Solutions acquisition, see News section, p. 25.]





No comments
The Engineers' Choice Awards highlight some of the best new control, instrumentation and automation products as chosen by...
The System Integrator Giants program lists the top 100 system integrators among companies listed in CFE Media's Global System Integrator Database.
The Engineering Leaders Under 40 program identifies and gives recognition to young engineers who...
This eGuide illustrates solutions, applications and benefits of machine vision systems.
Learn how to increase device reliability in harsh environments and decrease unplanned system downtime.
This eGuide contains a series of articles and videos that considers theoretical and practical; immediate needs and a look into the future.
Motor specification guidelines; Understanding multivariable control; Improving a safety instrumented system; 2017 Engineers' Choice Award Winners
Selecting the best controller from several viewpoints; System integrator advice for the IIoT; TSN and real-time Ethernet; Questions to ask when selecting a VFD; Action items for an aging PLC/DCS
Robot advances in connectivity, collaboration, and programming; Advanced process control; Industrial wireless developments; Multiplatform system integration
Motion control advances and solutions can help with machine control, automated control on assembly lines, integration of robotics and automation, and machine safety.
This article collection contains several articles on the Industrial Internet of Things (IIoT) and how it is transforming manufacturing.

Find and connect with the most suitable service provider for your unique application. Start searching the Global System Integrator Database Now!

Future of oil and gas projects; Reservoir models; The importance of SCADA to oil and gas
Big Data and bigger solutions; Tablet technologies; SCADA developments
SCADA at the junction, Managing risk through maintenance, Moving at the speed of data
Automation Engineer; Wood Group
System Integrator; Cross Integrated Systems Group
Jose S. Vasquez, Jr.
Fire & Life Safety Engineer; Technip USA Inc.
click me