Advanced Energy Acquires Electrostatic Business From Monroe Electronics
May 22 2018 - 4:05PM
Advanced Energy Industries, Inc. (Nasdaq:AEIS), a global leader in
innovative power and control technologies, today announced it has
acquired the electrostatic business of privately-held Monroe
Electronics, Inc. located in Lyndonville, New York. For more than
50 years, Monroe’s electrostatic detection and measurement
instrumentation has led in technology and quality, serving specific
areas of testing and ongoing monitoring of ionization systems
across a variety of applications. In addition, the non-contact
electrostatic voltmeters and field meters complement those of Trek,
AE’s most recent acquisition. Production of these electrostatic
products will be integrated into the recently acquired Trek
manufacturing facility in nearby Lockport, New York.
"Today's announcement comes on the heels of our acquisition of
Trek and increases our technology and IP portfolio in the Specialty
Power offerings, especially in the electrostatic applications
space, capitalizes on our existing manufacturing capabilities at
Trek and expands our total addressable market,” said Yuval
Wasserman, president and CEO at Advanced Energy.
“We are very excited to bring this technical talent to the AE
family. Monroe’s legacy experience in electrostatics metrology and
mitigation allows us not only to enter adjacent markets, but offer
customers a wider array of solutions,” said Mike McDonald, SVP of
Specialty Power Products at Advanced Energy.
About Advanced Energy
Advanced Energy (Nasdaq:AEIS) is a global leader in innovative
power and control technologies for high-growth, precision power
solutions for thin films processes and industrial applications.
Advanced Energy is headquartered in Fort Collins, Colorado, with
dedicated support and service locations around the world. For more
information, visit: www.advanced-energy.com.
About Monroe Electronics, Inc.
Incorporated in 1954 in Rochester, NY (Monroe County), Monroe
Electronics started out as a custom engineering house, designing
and manufacturing specialized instrumentation & systems for
local industries. In the late 1950’s, Robert E. Vosteen, the
Company’s founder invented a reliable, precise, drift-free method
for non-contacting measurement of static electricity. This feedback
electrostatic measurement technique became the international
standard for measurements utilized in photocopier R&D,
industrial monitoring, sensitive electronic assembly, bio-electric
research, lightning warning, among many other areas. They currently
offer a complete line of electrostatic measuring instruments
including electrostatic voltmeters, electrostatic fieldmeters,
coulomb meters and resistivity meters through a worldwide group of
distributors and representatives. For more information, visit
www.monroe-electronics.com
For more information, contact:
Paul OldhamAdvanced
Energy Industries, Inc.(970) 407-6615paul.oldham@aei.com |
Rhonda
BennettoAdvanced Energy Industries, Inc.(970)
407-6555ir@aei.com |
Forward-looking Language
Certain statements in this press release, including, without
limitation, statements regarding the future business, operating and
financial condition of the Electrostatic Business and its products
are forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Forward-looking statements are subject to
known and unknown risks and uncertainties that could cause actual
results to differ materially from those expressed or implied by
such statements. Such risks and uncertainties include, but are not
limited to: the successful integration of the operations and
products of the Electrostatic Business; expectations surrounding
the benefits of Electrostatic Business products; the retention of
key employees; the total available market for Electrostatic
Business products worldwide; expectations regarding sales
performance of Electrostatic Business products; expectations
surrounding the Electrostatic Business manufacturing model; as well
as the effects of global macroeconomic conditions upon demand for
such products. These and other risks are described in Advanced
Energy's Form 10-K, Forms 10-Q and other reports and statements
filed with the Securities and Exchange Commission. These reports
and statements are available on the SEC's website at www.sec.gov.
Copies may also be obtained from Advanced Energy's website at
www.advanced-energy.com or by contacting Advanced Energy's investor
relations at (970) 407-6555. Forward-looking statements are made
and based on information available to the company on the date of
this press release. As reiterated previously, aspirational goals
and targets discussed on conference calls or in the presentation
materials should not be interpreted in any respect as guidance. The
company assumes no obligation to update the information in this
press release.
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