The bottle cap testing products complement Mesa Labs' existing line of DataTrace logging instruments, which are utilized within the food & beverage and pharmaceutical industries for design, validation and quality control applications. These same industries use bottle cap torque testing during the development process of new containers and for routine quality control during their packaging operations. The acquisition of the Vibrac products is expected to be accretive to Mesa's earnings per share during this first 12 month period following the closing.
"We are excited to add this new line of bottle cap testing instruments to Mesa's existing quality control products for our key industrial markets," said John Sullivan, President and CEO of Mesa Labs. "Vibrac's products incorporate high quality, industry leading designs. In particular, the Smart Bottle is a patent protected, one-of-a-kind design that allows the user to accurately measure application torque in real time, rather than removal torque at a later time. There are great growth opportunities for the Torqo and Smart Bottle products, as we integrate them into our distribution channels and undertake further product development. Adding unique, market-leading products like these to Mesa's portfolio is a key part of our growth strategy, and we expect to do very well with this new line of instruments."
"The Torqo and Smart Bottle products are a strategic addition to Mesa's line of DataTrace logging instruments," said Tom Rogers, President and General Manager of Vibrac. "We are confident that Mesa will build on our success with the cap testing products, and reach new markets and new customers in the consumer product packaging industries. Vibrac will continue to develop new technologies while moving forward with a new and dedicated focus on advancing our lines of precision torque sensors, torque testing instruments and bearing test systems."
This news release contains forward-looking statements which involve risks and uncertainties. The Company's actual results could differ materially from those in any such forward-looking statements. Additional information concerning important factors that could cause results to differ materially from those in any such forward-looking statement is contained in the Company's Annual Report on Form-10K for the year ended March 31, 2009 as filed with the Securities and Exchange Commission, and from time to time in the Company's other reports on file with the Commission.