Leuven, March 19 2008 - Metris announces today that it has acquired 100% of the Chinese SLK joint venture. This acquisition will enable Metris to further extend its strong presence in China and to expand its manufacturing capacity for increased production output. Manufacturing CMMs and subassemblies of other Metris products in the newly acquired Chinese manufacturing entity will reduce overall cost of sale.
In 2004, Shanghai Machine Cutting Tool - a division of Shanghai Electric Company -, Well Resources -a Hong Kong trading Company- and LK formed a manufacturing joint venture SLK, where LK held 33% ownership. LK was acquired by Metris in January 2006. Now Metris has acquired 100% ownership of the joint venture which will be renamed ''Metris Precision Products Shanghai'' and become Metris' manufacturing and component sourcing headquarters in China.
The Shanghai based operation will produce CMMs primarily for the Asian market and also deliver components and subassemblies to worldwide Metris manufacturing and assembly plants.
Andy Cumming, Managing Director of Metris Precision Products Group and responsible for UK and Asia comments: ''After the threefold growth in manufacturing capacity in Metris UK and double digit growth in Metris Italy, it was necessary to further extend our manufacturing capacity in response to the increasing metrology equipment demand, particularly in South-East Asia''.
About Metris
Metris (Euronext - MTRS) designs, develops and markets a unique range of 3D hardware and software inspection systems servicing design and manufacturing industries. The company's reliable and innovative metrology solutions cover the full range of measurement volumes required by automotive and aerospace customers, in both fixed and portable configurations and with optical and touch sensors.
Metris Headquarters are based in Leuven, Belgium with additional production and development centers in Belgium, UK, Italy, US, Canada, China, India and Bulgaria. Metris provides a worldwide network of sales and support offices located in Europe, Asia, and the US.
