Vaisala Corporation Stock Exchange Release March 6, 2013 at 9:30 a.m.
Vaisala has today signed a contract to sell its non-weather road transportation product lines to M.H.Corbin, Inc., USA. This decision aligns Vaisala's Weather business further with the customer-driven strategy, and allows the company to focus on road weather product offering, development of decision support systems, and related services. The value of the contract is EUR 3.4 million.
M.H.Corbin is a well-established US based distributor with offices in Ohio, Pennsylvania, West Virginia and New York. The company is a long-lasting distributor of all Vaisala's road offering including the divested product lines. Going forward, this business relationship of road weather products will continue.
"We are especially pleased that M.H. Corbin continues to serve our customers. They are experienced and knowledgeable about the business and the products in question. This will ensure that the customers are well taken care of in the future", states Antero Järvinen, Director, Roads and Rail.
The divestment affects directly seven Vaisala employees in USA. As a result of the divestment, Vaisala will close its Durham office in North Carolina, USA.
The divested product lines comprise of three non-weather road transportation products: a distance measuring instrument which measures the exact linear distance travelled by a vehicle; a portable traffic data analyzer, which provides data such as the number of vehicles, speed of the vehicles and length classifications for short-term studies; and highway advisory radio systems which provide real-time information to motorists via AM radio signal. All products are currently used in USA by various governmental and public works entities, including State Departments of Transportation.
The product lines were a part of the acquisition of Quixote Transportation Technologies (QTT), USA, in 2009. Vaisala's goal is to remain the world leader in providing the best road weather sensors, service, and decision support software available to the transportation community. Vaisala also strives to strengthen its position as a road weather partner by increasing technical and consultative support.
For more information:
Antero Järvinen, Director, Roads and Rail, email@example.com, tel. +1 720 201 7207
Scott Sternberg, President, Vaisala Inc., firstname.lastname@example.org, tel. +1 303 547 7624
Kai Konola, EVP, Weather, email@example.com, p. +358 40 5024 900
Kaarina Muurinen, CFO, firstname.lastname@example.org, p. +358 40 577 5066
Vaisala is a global leader in environmental and industrial measurement. Building on 75 years of experience, Vaisala contributes to a better quality of life by providing a comprehensive range of innovative observation and measurement products and services for chosen weather-related and industrial markets. Headquartered in Finland, Vaisala employs over 1400 professionals worldwide and is listed on the NASDAQ OMX Helsinki stock exchange.
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