ALMELO, the Netherlands – December 1, 2015 - Sensata Technologies Holding N.V.
(NYSE: ST) announced today
that subsidiaries completed the previously announced acquisition of the sensing
portfolio of Custom Sensors & Technologies, Inc. (“CST”). The acquisition includes the Kavlico, BEI,
Crydom and Newall product lines and brands and includes sales, engineering and
manufacturing sites in the United States, the United Kingdom, Germany, France,
China and Mexico that employ approximately 2,500 people, including
approximately 250 engineers.
“The acquisition of CST's sensing portfolio is in line
with Sensata's strategy to Win in Sensing," said Martha Sullivan, Sensata
Technologies President and Chief Executive Officer. "These are
long-standing, profitable and highly cash generative sensing brands that are
well respected by leading OEMs. We are excited to welcome this talented team
into Sensata's global organization.”
About Sensata Technologies Holding N.V.
Sensata Technologies Holding N.V. is one of the world's
leading suppliers of sensing, electrical protection, control and power
management solutions with operations and business centers in fifteen countries.
Sensata's products improve safety, efficiency and comfort for millions of
people every day in automotive, appliance, aircraft, industrial, military,
heavy vehicle, heating, air-conditioning and ventilation, data,
telecommunications, recreational vehicle and marine applications. For more
information, please visit Sensata's website at www.sensata.com.
About Custom Sensors & Technologies
Custom Sensors & Technologies ("CST"),
headquartered in California, USA, is a global specialist in designing and manufacturing
sensors, controls and actuators. Through its brands, BEI Kimco, BEI Sensors,
BEI PSSC, Crouzet, Crydom, Kavlico, Newall and Systron Donner Inertial, CST
offers a wide range of reliable and efficient components dedicated to the
Aerospace & Defense, Transportation, Industrial, Medical and Energy &
Infrastructure markets. Through the expertise, diversity and agility of its
4,400 employees worldwide, CST is focused on the satisfaction of its customers.
Committed to excellence, with sales of $590M US in 2014, CST is the dependable
and adaptable partner for the most demanding applications. For more
information, please visit CST's website at www.cstsensors.com.
Safe Harbor Statement
in this release which are not historical facts, such as those that may be
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"may," "plan," "potential," "project,"
"should," "would," and similar expressions, are
forward-looking statements under the provisions of the Private Securities
Litigation Reform Act of 1995. By their nature, forward-looking statements
involve risks and uncertainties because they relate to events and depend on
circumstances that may or may not occur in the future. Detailed information about some of the known
risks is included in our Annual Report on Form 10-K for the year ended December
31, 2014 and our other reports filed with the Securities and Exchange
Commission. Because actual results could differ materially from our intentions,
plans, expectations, assumptions and beliefs about the future, you are urged to
view all forward-looking statements contained in this news release with
caution. Except as required by applicable law, we do not undertake to publicly
update or revise any of these forward-looking statements, whether as a result
of new information, future events or otherwise.
Investors: News Media:
Jacob Sayer Linda
(508) 236-3800 (508)