July 30, 2008 8:29am
• Second acquisition of an engineering and construction accessories company
• "Seco will enable us to continue to augment our existing product lines"
Privately-held Seco Manufacturing Company Inc. of Redding has been acquired in an all-cash transaction by Trimble Navigation Limited (NASDAQ: TRMB) of Sunnyvale.
Seco makes accessories for the geomatics, surveying, mapping, and construction industries.
Financial terms were not disclosed.
Trimble recently acquired of Crain Enterprises, which was announced in January. The purchase of Seco and Crain allows Trimble to provide the necessary accessories that can be offered as part of its positioning products used in the engineering and construction markets, it says.
Seco specializes in the development, fabrication and machining of metallic accessory products while Crain is more focused on polymer and composite-based products.
"Seco will enable us to continue to augment our existing product lines by offering additional accessories as part of our solutions portfolio,” says Bryn Fosburgh, sector vice president of Trimble. “The acquisition allows us to better satisfy our user's needs."
Posted in the Central Valley Business Times July 30, 2008
Read Trimble's News Release HERE.