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Bosch Closes the Acquisition of Measuring Tool Business From Stanley.
Extends Global Position in Measuring Technology
-- CST/berger is largest supplier of leveling and surveying equipment in the United States
-- Company employs approximately 350 associates in the United States, Germany and Italy
-- Expands Bosch's worldwide product portfolio of Power Tools division
CHICAGO, July 25 /PRNewswire/ -- Bosch has completed its previously announced acquisition of CST/berger from The Stanley Works. The acquisition, which was announced to investors on June 11, 2008, paves the way for Bosch to strengthen its presence in the rapidly growing global measuring technology market. Located in West Lafayette, Ind., CST/berger is a leading manufacturer of laser, optical leveling and alignment technologies for professional users and do-it-yourself (DIY) customers.
"We are very excited to be adding the full line of CST/berger measuring tools and leveling equipment to our power tools portfolio," said Manfred Seitz, chairman, president and CEO of Robert Bosch Tool Corporation. "This acquisition is part of our strategic direction to meet customer needs by providing a more complete offering of innovative tools, and the diverse range of more than 1,000 CST/berger products significantly extends the Bosch position in the measuring technology market."
Virtually no other competitor is able to offer a comparable portfolio of products, solutions, and strong brands on a worldwide scale as the new combination of Bosch and CST. "Bosch and CST brands complement each other nearly perfectly in addressing the widest range of measuring and laser leveling user needs," said Ash Puri, the former CEO of CST/berger who will take the worldwide responsibility for the future Measuring Tools business unit of Bosch Power Tools.
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Source: HighBeam Research, Bosch Closes the Acquisition of Measuring Tool Business From Stanley.