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Company Announcements
XTech Acquires Triple E Corporation
February 19, 2010
Randolph, MA — XTech, the leading global manufacturer of front panels and accessories for the electronics industry, today announced that it has acquired TripleE Corporation, in Lowell, Massachusetts. TripleE provides ruggedized solutions to the defense, avionics, and security industries.
"This acquisition reflects XTech's strategy of expanding and diversifying into markets that are adjacent to our core front panel and enclosure business," said Reinhold Hesse, Chief Executive Officer. "The growth rates of the defense/security markets are attractive and stable, with long product life cycles. TripleE complements XTech's current base of business in the communications and general electronics markets — where shorter life cycles are common."
"The addition of TripleE also presents an exciting opportunity to leverage the disciplines of XTech's strong Lean manufacturing team. We will continue to implement performance improvements and drive bottom line growth by applying XTech's proven continuous improvement processes."
TripleE will become part of Extrusion Technology, Inc., the parent company of the XTech brand. Laurie Burger, Chief Marketing Officer, noted, "The acquisition will broaden our market share in the defense sector, while opening up new opportunities for organic growth through synergies in channel, products, and global manufacturing footprint. Given XTech's ITAR compliance — a key requirement in the defense and security sectors — we can more easily and seamlessly integrate TripleE into XTech's infrastructure. Our current and new customers are foremost on our minds and our transition team is taking all precaution to ensure success."
"TripleE's strong portfolio of ruggedized front panels and components — for applications such as NEBS compliant systems and mobile communications — greatly enhances XTech's offerings to the telecommunications and computing markets. The acquisition expands our ability to serve the rapidly growing needs of those applications," Burger added.
"XTech reinforces its commitment to customer service, product quality and innovation to the ruggedized market through this acquisition," said Reinhold Hesse. "We are excited by the opportunities we see to innovate and grow."
Contact:
Laurie Burger, Chief Marketing Officer
781-963-7200, ext. 210
lburger@xtech-outside.com