UTC Fire & Security acquires Simtronics
UTC Fire & Security is making news again.
I just wrote recently that the Farmington, Conn.-based company has a new president, Scott Buckhout, and has aligned its United States fire and security services under the Chubb brand.
Now UTC Fire & Security, a unit of United Technologies Corp., just announced today that it has acquired “a Norway-based provider of sophisticated gas and flame detection systems, extinguishing solutions and fire prevention systems for marine and off-shore industries.”
Here’s more from the written announced the company issued about the acquisition of Simtronics ASA:
“UTC Fire & Security purchased more than 85 percent of the outstanding shares of Simtronics through its subsidiary Autronica Fire and Security AS. Autronica plans to initiate a compulsory acquisition of the remaining shares and delist Simtronics from the Oslo Stock Exchange. The full acquisition and delisting is expected to be completed in the second quarter of 2011.
'This is an important strategic acquisition for UTC Fire & Security. We will beexpanding our offering of high quality gas and flame detection products, as well as increasing our ability to provide gaseous suppression solutions for our customers,' stated Scott Buckhout, President, UTC Fire & Security.
Simtronics Chairman, John Afseth noted, 'I am pleased with this transaction. UTCFire & Security will enable Simtronics to expand to even further horizons, bringing the Simtronics brand and knowledge to more customers around the world.'"
I've contacted UTC Fire & Security to find out what this means for fire dealers and installers here in North America.