Omron acquires STI, enters safety device market
By Staff -- Plant Engineering, 6/1/2006
OMRON Corp. has acquired Scientific Technologies Inc. for $94 million plus net cash and working-capital adjustments. The deal, which does not include the purchase of STI’s Automation Products Group, was approved by both companies’ boards of directors.
Officials at OMRON said the company’s Industrial Automation Business expects to growing 15% per year in the $940 million global safety device market due to a rising trend for Corporate Social Responsibility (CSR) that stresses not only improved productivity but also workplace safety.
