MSA Agrees to Acquire Sordin AB of Sweden
PITTSBURGH, May 14 /PRNewswire-FirstCall/ -- MSA (Amex: MSA) today announced it has reached an agreement to acquire Sordin AB of Sweden, a manufacturer of passive and electronic hearing protection equipment for the industrial, law enforcement and military markets. The transaction is expected to be completed in the second half of 2004. Terms were not disclosed.
Founded in 1989, Sordin AB is recognized in the industry for developing advanced and modern hearing protective devices. Many of Sordin's products are compatible with other safety products manufactured by MSA, including MSA's flagship V-Gard(R) Hard Hat. Sordin AB also developed the modular integrated communications system currently being used with MSA's Advanced Combat Helmet, which MSA manufactures for the U.S. Army.
"Sordin's experience in the hearing protection market, combined with its line of products that incorporate advanced technology, will enhance our ability to manufacture and supply a full line of hearing protection devices," said John Ryan III, MSA Chairman and CEO.
Established in 1914, MSA is the world's leading provider of quality products and services that protect people's health and safety, and the environment. The company has annual sales exceeding $700 million, with manufacturing operations throughout the United States and 28 international affiliates.
SOURCE MSA
