Diversified product manufacturer and service provider Curtiss-Wright Corp said it had recently finalized a 100% membership interest buyout of Arens Controls, LLC. The acquisition deal was agreed at a USD98 million cash transaction. Under the definitive agreement, Arens would be operating under the Controls segment of Curtiss-Wright.
Arens had been a leader in the design and manufacturing of interface controls and power management systems for off-road industrial and commercial vehicles. The consolidation of both companies would strengthen its supply relationships, a trend seen in Original Equipment Manufacturers (OEMs) of commercial and off-road vehicles. Medium and heavy truck production had been projected to show a significant growth in the next few years especially in India and China.
Arens was founded in 1939 and had been long in the market as a control system solutions provider for industrial vehicles. The company is positioned to grow in the rising demand for Hybrid Electronic Vehicles (HEV). Moreover, Arens would be expected to pass strict worldwide emissions standards as it had already placed measures in its solutions.
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