IDEX Corporation Acquires Systec, Inc.
NORTHBROOK, Ill.--(BUSINESS WIRE)--April 28, 2004--IDEX
Corporation (NYSE:IEX), the world's leading provider of positive
displacement pumps, dispensing equipment for color formulation, and
other highly engineered products, today announced the acquisition of
Systec, Inc., a leader in the design and manufacture of vacuum
degassing products for the analytical chemistry instrumentation
market. Systec will be operated as part of IDEX's Pump Products Group.
Terms of the cash transaction were not disclosed.
Headquartered in New Brighton, Minnesota, Systec has annual sales
of approximately $9 million. Its primary products include miniaturized
Teflon(R) diaphragm vacuum pumps and controls, Teflon(R) AF degassing
chambers and transfer lines and spectrophotometer flow cells.
Degassing of fluids is critical to the instrumentation and analytical
chemistry markets since dissolved gasses within a given fluid can be
detrimental to the accuracy of test results.
IDEX Corporation is a manufacturer of proprietary pump and
metering products, dispensing equipment and other engineered products
with leading positions in niche markets. Its products are sold to a
wide range of industries throughout the world. IDEX shares are traded
on the New York Stock Exchange and Chicago Stock Exchange under the
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Exchange Act of 1934, as amended. These statements
are indicated by words or phrases such as "anticipate," "estimate,"
"plans," "expects," "projects," "should," "will," "management
believes," "the company believes," "the company intends," and similar
words or phrases. These statements are subject to inherent
uncertainties and risks that could cause actual results to differ
materially from those anticipated at the date of this news release.
For a discussion of such risks and factors that could cause actual
results to differ from those contained in the forward-looking
statements, please see "Risk Factors" in the company's annual report
or Form 10-K for the most recent fiscal year, as well as the company's
other filings with the Securities and Exchange Commission. Management
undertakes no obligation to publicly update the forward-looking
statements contained in this release. Investors are cautioned not to
rely unduly on forward-looking statements when evaluating the
information presented here.
For further information on IDEX Corporation and its business
units, visit the company's Web site at www.idexcorp.com.
CONTACT: IDEX Corporation
Susan H. Fisher (Investor Relations), 847-498-7070
SOURCE: IDEX Corporation