Solid State, based in Kent, has announced it has acquired Swiss company RZ Pressure Instruments Supply SARL (RZ) for an initial sum of £450,000
SolidState, based in Kent, has announced it has acquired Swiss company RZ Pressure Instruments Supply Sarl (RZ) for an initial sum of £450,000.
There maybe a further payment on completion in December 2007, based on the value of RZ’s net assets at the time.
SolidState distributes electronic components and batteries to customers in the UK and Ireland, with a focus on industrial, telecoms, medical, aerospace and defence designers.
RZ is a leading European battery pack manufacturer serving principally the oil and gas industry. SolidState said the addition of RZ to its Steatite battery pack business would make it the largest supplier in Europe of electrochemical products and would strengthen its international customer base in the oil and gas market.
According to SolidState, the addition of industrial computer supplier Wordsworth Technology Limited in 2005 and now RZ would further the company’s strategy to develop its core businesses in batteries, components and computing.