Nuremberg, Germany -- Leoni AG, a European group which makes cable systems for automotive and other uses, has bought US company Valentine Robotics, with effect from 1 July 2009.
With this acquisition, Leoni said, it is expanding its portfolio in industrial robotics and bolstering its position in the North American market.
Valentine Robotics, based in Sterling Heights near Detroit, Michigan, operates in a high-growth niche market with its specialisation in programming and commissioning of industrial robots, turnkey solutions for example for image processing and measuring systems as well as related application training.
The company was set up in 1996 and in the past few years generated average sales of $2.5 million (Euro 1.8 million) with about 20 employees. Leoni as a group employs around 45 000 people in 34 countries and had consolidated sales of Euro 2900 million in 2008, said a 3 July statement from the company.
Leoni said it has significantly extended its robotics portfolio with this purchase.
Valentine's expertise covers assembly of complex umbilicals and dresspacks with pneumatic, hydraulic and electrical components. It offers independent installation, preventive maintenance and service as well as making various polyurethane hoses and special control and power cables.
"With our takeover and incorporation of Valentine Robotics into the Industrial Solutions business unit of the Wire & Cable Solutions division we are broadening not only our footprint in North America, but also again our systems expertise," said Dr Klaus Probst, president and ceo of Leoni AG.