April 04, 2008

GE Fanuc Intelligent Platforms Acquires Process Technology Assets from MTL Instruments Group

GE Fanuc Intelligent Platforms Acquires Process Technology Assets from MTL Instruments Group

NovaTech entered into an OEM partnership with MTL MOST in 2005 with the goal of providing a new, highly reliable family of I/O for the D/3® DCS System.  Based on the MTL MOST platform, NovaTech’s 8000 Series, HART® capable, Ethernet I/O family is now fully integrated into the D/3®  and has become NovaTech’s leading I/O family.  NovaTech has worked with MTL on the introduction of new modules, new communication capabilities, and solutions for replacing earlier I/O families with the NovaTech 8000 Series I/O. NovaTech has most recently developed a unique 1:6 I/O redundancy solution using the 8000 I/O.

In February, Cooper Industries, Ltd. acquired The MTL Instruments Group plc (“MTL”), MTL MOST’s parent company, primarily to gain access to MTL’s products serving the hazardous area and surge-suppression markets.  MTL MOST Process automation I/O products were of less strategic interest to Cooper.

On March 31st, GE Fanuc Intelligent Platforms, a unit of GE Enterprise Solutions, and MTL Instruments Group plc, announced that the two companies have signed an agreement for GE Fanuc to acquire the assets of the MTL Open Systems Technology (MOST) product lines, including the MTL8000 general purpose I/O, intrinsically safe I/O, SafetyNet system, and process control technologies. MTL MOST’s products will fit well within the GE Fanuc automation product portfolio. This acquisition will conclude the second part of Cooper’s acquisition of MTL.

“Both GE/MTL and NovaTech share the goal of increasing the strength and sales of the 8000 product line.  We both view the ongoing partnership as very positive for both organizations.  Many of the MTL engineers who have been important in the development and support of the NovaTech 8000 product line at MTL will continue their roles in the new organization.” said Vince Horvath, Director, NovaTech.

NovaTech and MTL management are working together throughout the acquisition process to ensure that NovaTech customers are unaffected by the acquisition.  GE management has committed to the continued support of NovaTech, the largest OEM for MOST products, including the continuation of 8000 I/O development projects.