MILWAUKEE, May 24, 2007 Rockwell Automation has reached an agreement by which it will acquire Industrial Control Services Group Limited (ICS) for £110 million (British pounds) in cash. ICS trades and does business as ICS Triplex, a leading global supplier of critical control and safety solutions to process industries.
Headquartered in Maldon, United Kingdom, ICS Triplex has more than 500 employees and operations across Europe, the Middle East, Asia and North America. The company provides engineering services, products, and solutions for industries that demand high-integrity critical control. These industries primarily include oil and gas exploration, production, transportation, and refining as well as chemicals and power generation.
According to Keith Nosbusch, chairman and chief executive officer of Rockwell Automation, the acquisition will provide a strategic fit for the comapny's expanding process control and safety solutions businesses. It will allow Rockwell to incorporate ICS high availability, fault-tolerant technology into the Logix architecture extending the reach of this technology into discrete and hybrid process applications.
Rockwell Automation expects, subject to the receipt of regulatory approval from the German Federal Cartel Office and the satisfaction of customary closing conditions, to acquire 100 percent equity interest in ICS. The transaction is expected to be completed during the third calendar quarter of 2007. ICS Triplex will be included in the Control Products and Solutions operating segment.
