SANTA ANA, Calif., April 26, 2006 (PRIMEZONE) -- Intepro America, LLC and The Schaffner Group AG (SWX:SAHN) announced today that they have concluded their agreement to transfer ownership of the power electronics operations of the Schaffner Group's test systems division to Intepro America, LLC of Santa Ana, California, for an undisclosed sum. Intepro America, which markets power electronics systems in North America, is acquiring Schaffner Ltd., of Limerick, Ireland, as well as the corresponding sales and service organizations in the U.K. and U.S. Schaffner Ltd. contributed approximately $4 million to the Schaffner Group's revenues in the last fiscal year.
"We are extremely pleased with the acquisition of one of the recognized leaders in power electronics testing," said Joe Engler, president of Intepro America, LLC. "Our purchase of Schaffner's power electronics group is part of an existing long-term growth strategy for us and the beginning of a long-term commitment to Schaffner Ltd.'s customers."
Dr. Fritz Gantert, president and CEO of the Schaffner Group explains: "The sale of the power electronics segment is the first step toward the Schaffner Group's stated goal of focusing its efforts on its components business. Selling to Intepro America continues our commitment to the customers and employees, and provides a path for the division's growth."
Intepro manufactures, develops and services complex instrumentation and systems for the test and design validation of power supplies, components and systems used in aerospace, defense, commercial, OEM, telecommunications, and other power electronics applications. With hundreds of customers and thousands of systems installed world-wide, Intepro has been the choice in power supply testing for over 25 years, delivering quality solutions and service on time and at a fair price.
About The Schaffner Group AG
Schaffner is the international leader in electromagnetic compatibility (EMC) and targets high-growth industries such as automotive, building automation, industrial and consumer electronics, aerospace, medical technology, power supplies, telecommunications, and transportation. Schaffner develops, produces, and markets standard and customer-specific components, modules, test systems, and test facilities.
For more information on Schaffner, please contact Fritz Gantert at Schaffner Holding AG, CH-4542 Luterbach; Switzerland; +41.32.681.66.26; fax +41.32 .681.66.30; e-mail fritz.gantert@schaffner.com; www.schaffner.com.
About Intepro America, LLC
Intepro manufactures, develops and services complex instrumentation and systems for the test and design validation of power supplies, components and systems used in aerospace, defense, telecommunications, and other power electronics related industries. The leader in power supply testing for over 25 years, the company has a global reach with direct sales offices in the U.K., Ireland and U.S., and distributors covering China, Korea and Japan,
For more information on Intepro, contact Joe Engler at 1.714.743.5670 or joe.engler@inteproate.com. Intepro's headquarters is at 1530 Lyons Street, Santa Ana, CA 92705; 714.679.9749, 714.835.3441 (fax), www.inteproate.com.