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MOOG PURCHASES CONTROLLING INTEREST IN TSS
01 April 2002 - Moog Controls
| Moog Inc. announced today that it has acquired eighty-one percent of the stock of Tokyo Precision Instruments Co. Ltd. from Mitsubishi Electric Corporation and other shareholders. Located near Nagoya, Japan, TSS was founded in 1953 and is a manufacturer of high-performance servovalves, hydraulic systems, and pneumatic components. While the company's market is predominantly in Japan, it also exports to the United States and other countries. Sales for TSS for the latest 12 months were about $8 million. |
Moog Inc. announced today that it has acquired eighty-one percent of the stock of Tokyo Precision Instruments Co. Ltd. from Mitsubishi Electric Corporation and other shareholders. Located near Nagoya, Japan, TSS was founded in 1953 and is a manufacturer of high-performance servovalves, hydraulic systems, and pneumatic components. While the company's market is predominantly in Japan, it also exports to the United States and other countries. Sales for TSS for the latest 12 months were about $8 million. 'TSS is Moog's first acquisition in Japan and it offers us significant synergies,' said Sean Gartland, General Manager of Moog Pacific. 'The company has developed a good reputation for high quality products by continuously investing in product development. Their addition not only strengthens our existing portfolio, particularly in direct drive valves and pneumatic actuators, but brings with it strong aftermarket potential.'
http://www.moog.co.uk
About: Moog Controls
Moog Controls started life in the UK in October 1965 as Moog Hydra-Point, based in Cheltenham, England. This new subsidiary was set up to manufacture and market the Moog Hydra-Point machines in the UK, South Africa and European common market.Nearly 40 years later, not only does MCL manufacture a suite of products for motion control applications, they are also active in the design and development of new and innovative solutions for precision control problems. Our team of highly skilled engineers can provide project support to assist our customers in the performance of a wide variety of applications including, motion simulators for training and entertainment, industrial gas turbine controls, plastics machinery controls, heavy industry, metal forming & pressing, and commercial and military ground vehicle controls. All Moog subsidiaries are represented by regional sales engineers backed by comprehensive product and engineering support teams. Add to this the global presence of Moog and you are ensured a competent partner to deliver and service you and your customers needs. MCL employs over 270 people on its Tewkesbury site, accommodated in 3 buildings, producing over 21,500 servovalves per annum. |
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