Test Devices, Inc. Acquired by Schenck
To Deliver Increased Value and Testing Capabilities to Customers
[Deer Park, New York. and Hudson, Mass.] Sept. 28, 2017 – Schenck Corporation (Schenck) and Test Devices, Inc. (TDI) announced today that they have reached a definitive agreement under which Schenck will acquire TDI in the form of a share deal from its current owner, Mr. H. Eric Sonnichsen.
TDI is a leader in aviation-related testing technologies in the commercial and military sector, and is globally recognized for its proprietary, high-speed testing solutions. The company generated sales greater than $8 million in 2016.
Schenck is an affiliated company of Germany-based Schenck RoTec GmbH. They are a leader in balancing and vibration diagnostic devices, with regional US offices in Detroit, MI, Chicago, IL, Houston, TX, Greenville, SC and Anaheim, CA. In addition, Schenck has a Mexican subsidiary with service cells in five main industrial areas. Its North American sales are about $50 million (globally around $250 million).
“This acquisition adds tremendous consulting, prototyping and testing capabilities to our aerospace product line,” said Schenck President Ulrik Frodermann. “Together, TDI and Schenck will enhance customer value in a rapidly evolving aerospace industry by providing fast, cost-efficient, nondestructive or destructive testing methods, in the form of capital equipment or as an extended workbench.”
“With three complementary balancing and spin testing centers in the US and ten additional centers globally, Schenck and TDI are uniquely positioned to support OEMs globally”, Frodermann continued. “Embedded in the German Dürr Group (2017 estimated turnover of more than $4 billion), these two companies will continue to innovate testing solutions and enable those solutions for the Industrial Internet of Things Platform (IIoT) ADAMOS, a consortium recently established of five German industrial powerhouses to facilitate the digital transformation of their product offerings.”
“We are excited to become part of the Schenck and Dürr organization, which will enable TDI to deliver significantly more value to customers. We look forward to further innovating in the domain of high-speed testing services and equipment, benefiting our customers by providing increased capability, and further assisting them in their ongoing efforts to advance their products” said Test Devices’ President David Woodford.
Upon completion of the transaction, Schenck and TDI will continue their present product offerings, as two complementary brands with David Woodford retaining his position as President of TDI and Ulrik Frodermann, President of Schenck acting as the chairman of the supervisory board. Mr. Sonnichsen will continue to support the business as a Senior Engineering Consultant.
About Schenck Corporation
Schenck Corporation, Deer Park NY, a fully owned subsidiary of Schenck RoTec GmbH based in Darmstadt, Germany, provides high technology products and services to automotive and aerospace industries.
Schenck RoTec is the world market leader in the field of balancing and diagnosis technology and has 17 subsidiaries and joint ventures with seven production sites worldwide. In addition, there are 44 representatives and offices on all five continents. The Schenck RoTec group supplies innovative technologies to important industries such as the automotive and supply industries, the electrical and electronics industry, aerospace, power station engineering and mechanical engineering.
Schenck RoTec is part of Dürr group – one of the world’s leading mechanical and plant engineering firms with extensive automation expertise. Products, systems, and services offered by the Group enable highly efficient manufacturing processes in different industries. Dürr supplies sectors like the automotive industry, the mechanical engineering, chemical and pharmaceutical industries, and the woodworking industry. The company has 86 business locations in 28 countries. The Group generated sales of € 3.57 billion in 2016. Dürr has around 14,500 employees and operates in the market with five divisions:
- Paint and Final Assembly Systems: paint shops and final assembly systems for the automotive industry
- Application Technology: robot technologies for the automated application of paint, sealants, and adhesives
- Clean Technology Systems: exhaust-air purification systems and energy efficiency technology
- Measuring and Process Systems: balancing equipment as well as assembly, testing and filling technology
- Woodworking Machinery and Systems: machinery and equipment for the woodworking industry
Forward-Looking Statements
This publication has been prepared independently by Schenck Corporation. It may contain statements which address such key issues as strategy, future financial results, events, competitive positions and product developments. Such forward-looking statements are subject to a number of risks, uncertainties and other factors, including, but not limited to those described in Dürr’s disclosures, in particular in the chapter entitled “Risks” in Dürr’s annual report. Should one or more of these risks, uncertainties and other factors materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performances or achievements of Dürr may vary materially from those described in the relevant forward-looking statements. These statements may be identified by words such as “expect,” “want,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project” or words of similar meaning. Dürr neither intends, nor assumes any obligation, to update or revise its forward-looking statements regularly in light of developments which differ from those anticipated. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies.