Saia-Burgess expands in Germany
The Swiss electronics group, Saia-Burgess, has acquired German company, Locking Technologies and Devices (LTD).
LTD specialises in the development and production of locking systems, especially door locks for tumble-dryers, washing machines and dishwashers for domestic and industrial use.
Saia-Burgess, which makes micro-switches, sensors and electrical engines, said in a statement: "This acquisition, like the recently announced participation in MiCS, the Neuchatel based sensor manufacturer, is a further step in the expansion of Saia-Burgess' subsystem business."
LTD already uses switches from Saia-Burgess in the production of its locking systems.
Andreas Ocskay, chairman and chief executive of Saia-Burgess, said: "The integration of LTD makes it possible for us to expand our subsystem business further and enter new market segments."
No financial details were released on the deal.
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