Metall Zug Group: Acquisition of Cirris Systems, USA Mittwoch, 01. Juli 2020 - 06:30

Press release dated July 1, 2020

Zug, July 1, 2020 – The Schleuniger Group, a member of the Metall Zug Group, has signed an agreement, on June 30, 2020, to acquire the business of Cirris Systems Corp., headquartered in Salt Lake City, Utah (USA) by way of an asset deal. Cirris has 75 employees and generated sales of USD 13.5 million in 2019.

The Schleuniger Group, a member of the Metall Zug Group, has signed an agreement, on June 30, 2020, to acquire the material assets and liabilities of Cirris Systems Corp., headquartered in Salt Lake City, Utah (USA). This acquisition rounds out Schleuniger's existing range of testing solutions by adding easy to use and operate standard testers, adapters and accessories that will make it a leading supplier in North America to this growing market segment. At the same time, the transaction will broaden Schleuniger's clientele for applications outside the automotive supplier industry.

Cirris is a market leader in North America, with an established brand and large installed base of appliances and customers in a number of different industries. Founded in 1984, Cirris has since established itself as one of the leading suppliers of cable and harness testing equipment, including testers, adapters, software, accessories and custom products. The company's main markets are the USA and Mexico. Cirris is a virtually perfect fit for Schleuniger's product portfolio and global market reach and will give it access to the North American market for test automation and highly configurable and customized testing systems.

The acquisition of the business by the newly founded Cirris Inc. thus makes the Schleuniger Group, together with its subsidiaries adaptronic Prüftechnik GmbH in Wertheim (Germany) and Schleuniger Test Automation GmbH in Jettingen (Germany), a testing solution provider that leads the field in technological expertise, areas of application and industry coverage. This acquisition strengthens Schleuniger's "Best-in-Test" claim.

Schleuniger has built its business in the growth market of testing from the ground up over the last five years. During this short period, it has become a leading global full-range provider of low and high voltage applications, from simple bench-top units right through to highly configurable, custom testing systems and efficient test automation solutions that can be used in many ways in various industries.

About the Schleuniger Group

The Schleuniger Group forms the Wire Processing Business Unit of the Metall Zug Group. Schleuniger is now a globally active system partner and leading supplier to the wire processing and testing industry. Schleuniger products are used wherever highly precise connections, the highest productivity, proven quality and traceable data play key roles. Schleuniger's portfolio of products includes semiautomatic and fully automatic machines as well as peripheral devices and test equipment, tools, software and service products covering the entire spectrum of wire processing and cable harness production. Its software solutions offer value chain networking in wire production machines. Schleuniger thus helps its customers to continually improve their productivity.

The Schleuniger Group has a workforce of more than 900 employees worldwide, and 50 trainees.

About the Metall Zug Group

Metall Zug is a group of industrial companies headquartered in Zug. The Group has around 3,000 employees and comprises five Business Units:

• Infection Control (Belimed Group)
• Medical Devices (Haag-Streit Group)
• Wire Processing (Schleuniger Group)
• Others (Life Science Solutions (Belimed Life Science AG, Belimed Life Science d.o.o.), Gehrig Group AG and Corporate)
• Technology Cluster & Infra (Tech Cluster Zug AG, Urban Assets Zug AG)

The holding company Metall Zug AG is listed in the Swiss Reporting Standard of SIX Swiss Exchange, Zurich (type B registered shares, securities number 3982108, ticker symbol METN).

Metall Zug AG processes personal data in accordance with its privacy statement available at: https://www.metallzug.ch/en/datenschutzerklaerung.

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Further information

Daniel Keist Christof Gassner

Chief Financial Officer Head of Corporate Communications & IR

Phone: + 41 58 768 60 50 Phone: +41 58 768 60 50

This press release is published in German and English. The German version is binding.

This press release is available at www.metallzug.ch/en/medienmitteilungen.