Victor Technologies Group, Inc.
13.07.2012 14:12
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Acquisition Enables the Company to Offer Integrated, Industry-Leading
Technology for Automated Plasma Cutting Under the Thermal Dynamics(R) Brand
ST. LOUIS, 2012-07-13 14:11 CEST (GLOBE NEWSWIRE) --
Victor Technologies today announced that it has acquired all of the capital
stock of Robotronic Oy, the parent company of ProMotion Controls, Inc., a
leading maker of advanced, intelligent CNC controllers used in shape-cutting
machines (together with Robotronic Oy, 'ProMotion Controls'). The acquisition
will allow Victor Technologies to provide end users with fully-integrated
automated plasma cutting solutions that improve productivity.
ProMotion Controls specializes in PC-based shape-cutting controls, nesting
software, torch height controls and associated products for new and retrofit
cutting systems that use plasma, oxy-fuel, laser, water-jet or router
technology. ProMotion Controls, with operations in Medina, Ohio, is the U.S.
subsidiary of Robotronic, with operations in Tampere, Finland. As a leading
provider of cutting, welding and gas control solutions, Victor Technologies
will incorporate all the acquired technology and operations into those of its
Thermal Dynamics(r) brand.
'This acquisition delivers on our promise to offer end users the industry's
most innovative cutting technology,' said Martin Quinn, CEO of Victor
Technologies. 'As a fully integrated system provider, Thermal Dynamics will
continue to design and develop automated solutions that optimize cutting
performance and reduce operating costs. Acquiring ProMotion Controls helps us
to advance our vision for Victor Technologies - 'innovation to shape the
world.''
J.P. Kinos, President and CEO of ProMotion Controls, added, 'As part of Victor
Technologies, we'll be able to combine superior plasma and CNC knowledge to
offer a new level of intelligent system integration, providing our customers
with exceptional cut quality and productivity.' Mr. Kinos has joined Victor
Technologies as Vice President Brand Management, Automated Plasma.
Technology Background
As one of the recognized technological leaders in automated cutting systems,
ProMotion Controls was the first shape-cutting control manufacturer to
incorporate the Microsoft Windows NT operating system into its products,
introducing the intelligent 'iCNC' in 1997. The iCNC introduced the concept of
dual microprocessors, providing true multitasking, which sets it apart from
other shape-cutting controls. Separating the real-time machine and process
control from the processor running the Windows based operator interface makes
it possible to run more sophisticated software and build true intelligence into
the system. This intelligence allows the system to control complex cutting
tasks without the need for specially skilled operators or programmers.
Victor Technologies offers a full range of manual and automated plasma cutting
power sources, cutting technologies, gas control and torch height control
solutions through its Thermal Dynamics brand, which started its business
partnership with ProMotion Controls in 2008, developing the XT series of CNC
systems. Recent innovations include its 400-amp Ultra-Cut(r) 400 power source
featuring Diameter PROa technology, available in its XT CNC. Holes cut with
Diameter PRO have virtually no bevel from top to bottom around the entire
circumference of the hole, which limits dross and optimizes travel speeds. This
allows fabricators to reduce cycle time and lower grinding and machining costs.
About Victor Technologies
Headquartered in St. Louis, Missouri, Victor Technologies provides superior
solutions for cutting, welding and gas control equipment under brand names that
include Victor(r), Tweco(r), Arcair(r), Thermal Dynamics(r), Thermal Arc(r),
Stoody(r),
TurboTorch(r), Firepower(r) and Cigweld(r). For more information about Victor
Technologies, its products and services, visit the company's website at
www.victortechnologies.com.
Cautionary Statement Regarding Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. These statements reflect
management's current expectations and involve a number of risks and
uncertainties. Actual results may differ materially from such statements due to
a variety of factors that could adversely affect Victor Technologies Group's
(the 'Company's) operating results. These risks and factors are set forth in
documents the Company files with the Securities and Exchange Commission,
specifically in the Company's most recent Annual Report on Form 10-K and other
reports it files from time to time.
CONTACT: Bill Wehrman, Communications ManagerVictor TechnologiesPhone:
636-728-3057Email: media@victortechnologies.comAlternate Contact:Chuck
Schroeder (PR Representative)Office: 262-240-9790; Mobile: 414-467-3287Email:
chucks@imipr.com
News Source: NASDAQ OMX
13.07.2012 Dissemination of a Corporate News, transmitted by DGAP -
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Language: English
Company: Victor Technologies Group, Inc.
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US9900933618
WKN:
End of Announcement DGAP News-Service
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DGAP-News: Victor Technologies Acquires CNC Controller Developer Robotronic Oy and Promotion Controls
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