Brady Corporation to Acquire Tradex Converting AB, a Global Supplier of Self-Adhesive Components for the Mobile Phone Industry
April 07 2006 - 5:14AM
PR Newswire (US)
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.
DATASOURCE: Brady Corporation CONTACT: Investors, Barb Bolens,
+1-414-438-6940, or Media, Carole Herbstreit, +1-414-438-6882, both
of Brady Corporation Web site: http://www.bradycorp.com/ Company
News On-Call: http://www.prnewswire.com/comp/952350.html
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