U.K.-based Eurotherm plc Acquiring Action Instruments
Action Instruments Inc. announced Feb. 6 that it is being acquired by U.K.-based Eurotherm plc, the world's largest manufacturer of industrial temperature controllers. Subject to FTC and shareholder approval, the purchase was expected to be completed by the first week of March 1998.
San Diego, Calif. — Action Instruments Inc. announced Feb. 6 that it is being acquired by U.K.-based Eurotherm plc, the world's largest manufacturer of industrial temperature controllers. Subject to FTC and shareholder approval, the purchase was expected to be completed by the first week of March 1998. A leading manufacturer of industrial measurement and control instrumentation products for factory automation and process controls, 25-year-old Action Instruments has annual sales of approximately $20 million—with about 75% in the U.S. Action has been seeking growth through international expansion, and this led to the acquisition by Eurotherm. "At mid-size, in a fragmented marketplace, Action has been seeking growth acceleration through international sales and increased investment for technology development in the emerging industrial-network I/O markets. Eurotherm has the core technology and sales channels to accelerate Action's growth in Europe," says Jim Pinto, Action's founder and president. Mr. Pinto will become Action's chairman. Frank Williams, Action's vp of marketing, will become Action's president and ceo.
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