Leuven, May 7th 2007 - Metris (MTRS, Euronext Brussels) announces today that it has signed a share purchase agreement with the shareholders of Coord3 S.p.A for the purchase of 100% of the Coord3 stock. The Coord3 acquisition fits in the Metris strategy to expand its market share by acquisitions.
Coord3 S.p.A. is an Italian Coordinate Measuring Machine (CMM) manufacturer with headquarters in Bruzolo, Torino. The purchase agreement is subject to due diligence and certain closing conditions and provides for a maximum aggregate consideration of 1 million ï¿½ in cash, a maximum contingent consideration of 1,5 million ï¿½ which is convertible in Metris stock and the issuance of warrants ensuring retention of management-shareholders. Coord3 realized in 2006 revenues totaling 11 million ï¿½, and has 2,7 million ï¿½ net financial debt. Metris expects the acquisition to be net profit accretive for the year 2007.
"With the acquisition of Coord3, we expand our installed base of mechanical CMM customers by more than 2300 installations." comments Bart Van Coppenolle, President and CEO of Metris, "We can offer these new Metris customers an upgrade path to our innovative optical technologies e.g. laser scanning. With the new range of CMM products in our portfolio we are also now capable of offering new and existing customers mid range aluminum CMMs as well as the current high-end ceramic CMM offering."
"We are excited to join the most dynamic company in the micro metrology sector." comments Angelo Muscarella, CEO of Coord3, "With the Metris revolutionary optical metrology portfolio, Coord3 customers can trust on a reliable partner for a smooth transition to optical measurement technology."
With reference to the qualification made in the Metris acquisition strategy description, Metris characterizes the Coord3 acquisition as an acquisition to gain market share by acquiring installed base.
Coord3 S.p.A. is headquartered in Bruzolo, Torino, Italy. Since 1973 the company mission has been to manufacture 3D measuring machines. The core competency of the company has always been "to deliver solutions for measuring", and to manufacture high quality machines equipped with state of the art software and controls. Today, Coord3 is one of the Italian leaders in CMM and is known throughout the world, in particular, for its aluminum bridge and large gantry machines that service many key accounts in different high tech businesses. In addition to the main factory in Bruzolo, and four Italian service and tech centers in Milan, Pistoia, Verona and Bari, it is directly represented in China and Brazil with fully owned subsidiaries. It is also present in most of the major European countries and overseas, through a network of agents and service centers.
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Metris (Euronext - MTRS) designs, develops and markets a unique range of 3D hardware and software inspection systems for the automotive and aerospace sectors. The company offers world-class metrology solutions for both the design and manufacturing communities. The company's comprehensive product family covers the full range of measurement volumes required by customers, in both fixed and portable configurations and with optical and touch sensors.
Metris provides best-in-class precision equipment and metrology solutions for classical CMM measurements featuring bridge and horizontal arm CMMs.
Metris is the market leader for CMM based laser inspection, with the Metris LC and XC laser scanners offering full surface and feature measurement.
Metris Optical CMMs are portable, hand-held coordinate measuring machines, with a proven track record in engineering, pre-production, and quality control applications. The Optical CMMs can also be used in motion analysis and robot calibration applications.
Metris Handheld 3D Scanners are the best-in-class articulated arm scanners for inspection and reverse engineering.
The Metris Laser Radar is the top solution available to the manufacturing industry that provides a fully automated, non-contact measurement and inspection capability for large-volume applications of up to 60 meters.
The Metris iGPS is a modular, large volume tracking system enabling factory-wide localization of multiple objects with metrology accuracy, applicable in manufacturing and assembly.
Metris completes its product portfolio with a full range of complementary software solutions for inspection and reverse engineering applications.
Metris Headquarters are in Leuven (Belgium) with additional production and development centers in the UK (Derby, London) US (California, Detroit, Virginia), China, Russia, India and Bulgaria. Metris provides a worldwide network of sales and support offices located in Europe, Asia, and the United States.
Metris is publicly listed on the Euronext Brussels stock exchange as MTRS.
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