| Signature Control Systems, Inc announced today that it had last week, acquired all assets related to the manufacture of irrigation products formerly produced by Kurz-Kasch at their Miamisburg, Ohio, plant. Kurz-Kasch Inc, is a leading manufacturer of: conventional and encapsulated coils and stators, and high-performance solenoids. This transaction supports a FY2012 priority for Signature to grow its manufacturing resources through strategic asset based acquisitions that will not only improve product supply to Signature dealers but also supports Signature's new product development plans for 2012. "This acquisition not only compliments our manufacturing base in Peoria, but improves customer supply performance and boosts our product roadmap." said Brian J. Smith, President and CEO of Signature. "Additionally, it uniquely positions us for continued growth, increased independency and reliability in supply for all our irrigation product lines." This manufacturing expansion enhances Signature's position as a leading and trusted provider of irrigation management solutions to dealers and end users in the golf and turf irrigation markets. The acquisition will also increase the Company's production capacity and output in the Peoria facility, as well as pave the way for some new product growth avenues for Signature. With this extension to Signature's Peoria plant already underway Signature expects that production on these new lines, will reach full capacity by mid-January, 2012. "Even through tough times, Signature has found a way to persevere and as the economy slowly turns, demand for our products continues to increase; therefore we simply had to have additional capacity to support our customers' needs. This acquisition is absolutely accretive to our Company's goals, and with the constant optimizing of the business since the acquisition of Nelson Turf, we continue to position ourselves to be at the ready for when the economy bounces back. 2012 is gearing up to be an exciting year for Signature as we roll out further manufacturing initiatives, new products and distribution expansion plans, to better support our client's and their customer's needs." added Smith. This acquisition is just one of a series of larger scale initiatives that are underway within the Company, in improving and optimizing performance since the acquisition of Nelson Turf, to be better positioned for the future. |
