Emteq shareholders invest in Montana partnership
The shareholders of New Berlin-based Emteq Inc. announced they have acquired individual shares of Cable Technologies of Montana Inc. (CTI), a Great Falls, Mont.-based designer and manufacturer of wire and cable-related assemblies.
The partnership is intended to strengthen Emteq’s electronic assembly and integration work.
Emteq specializes in avionics systems and integration, interior lighting and cabin comfort as well as exterior lighting products for retrofit and forward fit applications in the military, corporate, helicopter and air transport market.
Both companies will retain their names and will continue conducting business as usual.
Jerry Jendusa, Emteq’s chief executive officer, said, “This partnership provides us with an opportunity to offer a greater realm of products and services that compliments our current product offering, and we will be working together, with CTI, toward common goals in customer and operational excellence in the worldwide aviation industry.”
Ed Buttrey, president of CTI, said, “Emteq proves to be the ideal partner in the avionics business. They offer operations, people and processes which provide a level of synergy with our current operations and manufacturing and assembly capabilities to further enhance the growth of CTI in the aerospace and military industry.”
Buttrey will retain all responsibilities as the president of CTI, and Jendusa will continue his role of CEO of Emteq.
The two businesses will collectively be involved in customer relations, strategic growth plans and process improvements in growing the businesses and their employees.
Centurion Data acquires Lake Systems Inc.
Centurion Data Systems (CDS), a network infrastructure provider, announced that it has acquired Lake Systems Inc., a Pewaukee software firm that specializes in Enterprise Resource Planning (ERP).
With Lake Systems, CDS now has a customizable, robust and fully integrated accounting, manufacturing and distribution application.
“This is very exciting for us. The Midwest has a lot of manufacturing so it gives us an ‘in’ into a segment of the market that wasn’t previously a focus,” said Bill King, senior vice president of Pewaukee-based Centurion Data Systems. “Centurion Data Systems has always provided network infrastructure but our clients are mostly professional service firms, law firms, technical writers, and architects. The addition of an ERP package opens the door to working with manufacturers.”
With an ERP application, CDS clients will have a seamless integration between accounting, distribution (including order processing, inventory management and purchasing) and manufacturing (shop floor, routing and bill of materials). Additional customized components can be engineered, including asset tracking, consumable goods tracking, quoting, bar coding, private labeling, lot control and audio/visual shop floor alerts.
“Joining a company like CDS is the ideal scenario,” said Rick Benkstein, who founded Lake Systems in 1990 and assumes the title of manufacturing consultant in sales with CDS. “I’ve been an entrepreneur for almost 20 years. Now I’m part of a team which has expertise in areas that I don’t, and I bring to them my ERP background.”
“Rick will continue to service his former Lake Systems customers and will help us develop new business,” King said. “His strength is his knowledge of manufacturing best practices and he shares CDS’ commitment to helping clients use the full potential of their technology software and systems to support their business objectives.”
DRS to be acquired by Italian company
DRS Technologies Inc. announced it has signed a definitive agreement to be acquired by Finmeccanica, S.p.A. of Rome, Italy, for $5.2 billion.
DRS is the parent company of DRS Power & Control Technologies Inc. in Milwaukee at 4265 N. 30th St. The Milwaukee plant was formerly owned by Cutler-Hammer Manufacturing Co., which was acquired by Eaton Corp. and then DRS in 2002.
Finmeccanica will acquire 100 percent of DRS stock for $81 per share in cash.
The boards of directors of Finmeccanica and DRS each have approved the terms of the agreement. DRS will operate as a wholly-owned subsidiary, maintaining its current management and headquarters in Parsippany, N.J.
"DRS’ dramatic growth over the past five years and the premium provided through this acquisition will provide attractive returns for our stockholders," said Mark Newman, chairman of the board, president and chief executive officer of DRS. "This investment in DRS – with an increased emphasis on research and development – will mean the combined company will be able to compete for and win additional contracts around the world, accelerating growth and expanding opportunities at our facilities in the U.S."
Miller to acquire majority share of Ukrainian brewer
SABMiller plc, the London-based parent company of Miller Brewing Co., has agreed to acquire a 99.84-percent interest in the Ukrainian brewer CJSC Sarmat.
The transaction is subject to approval by the Ukrainian competition authorities and other customary pre-closing conditions.
Sarmat is one of the largest brewers in the Ukraine and, upon completion, will operate one brewery in Donetsk in the east of the country with an annual production capacity of 2.9 million hectolitres, producing the Sarmat, Dnipro and Drive Max brands.
Sarmat is owned by System Capital Management Ltd., a diversified holding company that manages a number of interests in the Ukrainian market.
The purchase price of the company is not being disclosed, but the value of the gross assets to be acquired is approximately $130 million.
The acquisition represents SABMiller’s entry into one of the fastest-growing beer markets globally with a four-year growth rate to 2006 of 14 percent.
The Ukraine’s medium term forecast for beer market growth is expected to be higher than any other major Central and Eastern European (CEE) market.
Alan Clark, managing director of SABMiller Europe, said, "We are delighted to announce the acquisition of Sarmat and our entry into the fast growing and attractive Ukrainian market. The Ukrainian beer market has recorded exceptional expansion in recent years, driven by strong economic growth, but it still remains behind other CEE countries in terms of per capita beer consumption."
M&I’s federal filing could clear way for acquisitions
Marshall & Ilsley Corp. announced it has filed a registration statement with the U.S. Securities & Exchange Commission covering an aggregate of up to 6 million shares that could be sold to fund possible future acquisitions by M&I and its subsidiaries.
The registration statement replaces a previous registration statement that was no longer available after M&I’s spinoff of Metavante Corp. last November.
The acquisition shelf registration statement filed today will enable Marshall & Ilsley to issue shares of its common stock in one or more possible future acquisition transactions. The transactions may include the acquisition of assets, businesses or securities, whether by purchase, merger or any other form of business combination. The company has no current commitment to issue any of the shares registered.