LORD Corporation Completed Acquisition Of MicroStrain, Inc.
CARY, N.C., Sept. 17, 2012 /PRNewswire/ --
- LORD Corporation has closed the acquisition of MicroStrain, Inc.
- MicroStrain develops and supplies sensing solutions to the aerospace, defense, agriculture and construction, energy, and consumer electronics markets.
- MicroStrain will continue to operate out of its Williston, Vt. location as MicroStrain, a LORD Company.
LORD Corporation has announced the closing of the acquisition of the assets of MicroStrain, Inc. for an undisclosed amount. A privately-held company located in Williston, Vt., MicroStrain develops and supplies sensing solutions to the aerospace, defense, agriculture and construction, energy and consumer electronics markets.
Recently, MicroStrain has been involved in programs to flight-test a range of energy harvesting and wireless devices embedded in helicopter rotor head key components, as well as vibration measurement devices on platforms such as the V-22.
"The addition of the MicroStrain sensing technology enhances our LORD vibration and motion control portfolio. The combination of these technologies will enable the next generation of smarter aircraft, machines, and industrial processes," said Rick McNeel, chairman, president and CEO of LORD.
"We are delighted to welcome MicroStrain and its outstanding employees into LORD," added McNeel. "The addition allows LORD to leverage the cutting-edge technologies and the know-how of the MicroStrain employees for further expansion into new markets and regions. We are excited about the many growth opportunities it brings."
MicroStrain will continue to operate out of its current location in Williston as MicroStrain, a LORD Company, while retaining its current 50+ employee workforce.
MicroStrain is a Vermont business specializing in combining micro-sensors with embedded processors to autonomously track operational usage and to navigate and control unmanned systems. For more information, visit www.microstrain.com.
About LORD Corporation:
With global reach and extensive technical capabilities, LORD has the ability to work on complex formulations, balancing contradictory property and process requirements to deliver the solutions that meet customer and market demands. LORD builds on its more than 85-year history with a track record of successful long-term partnerships with technology leaders in industries ranging from aerospace to automotive, electronics to industrial heavy equipment.
Founded in 1924, LORD Corporation is a privately-held company that designs, manufactures and markets mechanical devices and electromechanical systems to control vibration, motion and noise; formulates, produces and sells general purpose and specialty adhesives, coatings and electronic materials; and develops products and systems utilizing magnetically responsive technologies. With global headquarters in Cary, N.C., and sales in excess of $789MM, LORD has manufacturing facilities in eight countries and more than 90 sales and support centers. LORD Corporation employs more than 2,800 worldwide. Visit www.lord.com for more information.
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SOURCE LORD Corporation