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PaR Systems Purchases Unidynamics
06/13/2006
Acquisition advances PaR Systems march into military markets
ST. PAUL, Minn. (June 13, 2006) – PaR
Systems, Inc. announces
today the acquisition of the assets of Unidynamics, Inc., a leading
U.S. material handling and specialty equipment company, based in Conroe,
Texas. The purchase was funded with capital from PaR Systems financial
partner, American Capital Strategies (NASDAQ: ACAS).
Unidynamics joins Jered LLC, a wholly owned subsidiary of PaR Systems,
to provide specialty material handling design, manufacturing, and service
to the marine and military markets. Recently, Unidynamics made specialized
handling equipment installed in military applications including the
Littoral Combat Ship, the first of the U.S. Navy's planned next-generation
surface combatants.
“The acquisition of Unidynamics enhances PaR Systems’ existing
automation and material handling solutions and strengthens our support
for military and commercial marine customers,” said Rick Edger,
Jered president and head of PaR Systems’ military division.
PaR Systems purchased Unidynamics’ assets from their section
363 bankruptcy sale process. PaR Systems plans to act quickly to complete
Unidynamics’ immediate projects before relocating the facility
to Jered’s Brunswick, Ga., location.
About PaR Systems
For 45 years, PaR Systems has provided automation and material handling
solutions and remains focused on specialized robotics, material handling,
and crane equipment applications to improve customer quality, safety
and productivity. Headquartered in Shoreview, Minn., PaR Systems
serves highly specialized industries including aerospace, marine,
semiconductor, food and beverage, military, government, research,
semiconductor, medical, laboratory and manufacturing. In August 2005,
PaR Systems acquired the assets of Jered Industries, Inc. and expanded
its automation and material handling expertise into the military
and commercial marine industries. For more information, visit www.par.com.
About Unidynamics
Unidynamics, Inc. has designed and built innovative solutions and world-class
equipment for material handling applications. These include applications
for such markets as marine, offshore energy, hazardous materials,
aerospace, pleasure cruise ships, and others requiring customized
solutions.
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