Hexagon Acquires Precision Measuring Instruments Supplier in China
July 25, 2008
STOCKHOLM, SWEDEN -- Hexagon has entered into an agreement to acquire the Chinese company Serein Metrology (Shenzhen) Co., Ltd.
Serein Metrology develops and produces a range of advanced precision measuring instruments in the micro area of the measurement technologies market. The company provides products, solutions and services to the automotive industry, aerospace and defence industry, engineering industry, die and mould industry, electronics, IT and medical industry.
Serein Metrology is based in Shenzhen, China, and today employs 98 people. The company had a turnover of approximately 4 MUSD in 2007 and is expected to grow at a double digit rate in the years to come.
“The acquisition of Serein Metrology is an important step in the positioning of Hexagon in the China low and middle end market and will consolidate Hexagon’s strong position in the region”, says Ola Rollén, CEO and President of Hexagon AB.
Serein Metrology will be consolidated as of August 1, 2008 and will immediately contribute to Hexagon’s earnings.