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Hexagon Acquires Precision Measuring Instruments Supplier In China – ChinaSourcingNews.com

Hexagon Acquires Precision Measuring Instruments Supplier In China

Hexagon AB, a global measurement technologies company, has entered into an agreement to acquire the Chinese company Serein Metrology (Shenzhen) Co., Ltd.

Serein Metrology develops and produces a wide range of advanced precision measuring instruments in the micro area of the measurement technologies market. The company provides high quality products, solutions and services to the automotive industry, aerospace and defence industry, engineering industry, die and mould industry, electronics, IT and medical industry.

Serein Metrology is based in Shenzhen, China, and currently employs 98 people. The company had a turnover of approximately USD4 million in 2007 and is expected to grow at a double digit rate in the years to come.

"The acquisition of Serein Metrology is an important step in the positioning of Hexagon in the China low and middle end market and will consolidate Hexagon's strong position in the region," said Ola Rollén, CEO and president of Hexagon AB.

Serein Metrology will be consolidated as of 1 August 2008 and will immediately contribute to Hexagon's earnings.

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