Industry News: Jenoptik Merges Detroit Precision Hommel with Etamic
October 1, 2007
ROCHESTER HILLS, MI-The Jenoptik Group has taken over the outstanding 75% of Rochester Hills, MI-based Detroit Precision Hommel Inc. (DPH), a manufacturer of production and assembly measuring technology for the automotive and automotive supplier industry. In addition, DPH sells the complete line of Hommelwerke products to customers in the United States, Canada and Mexico. DPH has 57 employees and in 2006 generated sales of approximately $15 million. In 2002, Hommelwerke GmbH incorporated its U.S. operations Hommel of America Inc. into the former Detroit Precision Tools Co. and has held a 25% stake in the company since that time. The remaining shares, which have now been acquired, were privately owned. The parties have agreed not to disclose details of the purchase price.
The purchase was the last step required to allow for the merger of Detroit Precision Hommel Inc. with the Etamic Corp. in Plymouth, MI, both now wholly owned by the Jenoptik Group. The merger creates a system supplier in industrial measuring technology for the North American market. The synergies of this transaction will provide many cost advantages from consolidation of infrastructure to the integration of the plants, sales, marketing and IT structures. The combining of the companies also will significantly expand the service capacities in North America.
These completed activities position Hommel-Etamic as an international industrial metrology supplier, allowing the group to manage programs throughout the world. In addition to Germany and the United States, the Jenoptik Group, which will operate globally as Hommel-Etamic in the future, has companies in France and Switzerland. Hommel-Etamic has approximately 580 employees with estimated sales of more than 80 million euros for 2007, including the new U.S. operations.