Kockum Sonics Acquires LMI

Monday, November 18, 2002
Loadmaster International Inc. (LMI) announced a new ownership structure. LMI, with offices in both California and Malmö Sweden, was formerly owned jointly by Herbert Engineering Corp.(HEC) of Alameda, California and Xantic BV of The Hague Netherlands. The Malmö operations LMI AB (former Kockumation) will be acquired by Kockum Sonics, also of Malmö Sweden, and the Alameda operations of LMI will revert to sole ownership as a subsidiary of Herbert Engineering Corp. Kockum Sonics Marine productlines consist of acoustic signal systems Tyfon“,levelgauging systems Levelmaster“, and LoadRite“ loading computer, all with strong positions on the market. Through the acquisition Kockum Sonics will be able to provide another very strong brand, LOADMASTER“ to the market and will fortify its position as a leading supplier of marine components and systems worldwide. The merger will provide a foundation for an aggressive development program leading to a new state of the art software platform for shipboard loading computers, cargoplanning - and levelgauging systems. The two companies share a common past, in fact until the early 1980ies they were, the same company, today the reunion will spawn synergies that will materialize in new system solutions on the market. Responsible for business area Marine will be Capt Torbjörn Henriksson while business area Industry is managed by Christian Wildstam.

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