(PR.co.nz) Industrial Scientific, a major partner of gas detection equipment supplier, Entec has recently announced an agreement for its sale to Fortive Corporation.
Entec is excited about the sale, as due to the size and capability of Fortive Corporation, they will see acceleration in technical development of the Industrial Specific products which they supply to the NZ market.
Fortive (NYSE: FTV) is a public company, generating a revenue of $US 6.2 billion in 2016. Fortive is a diversified industrial growth company with essential technology businesses that drive innovation in field instrumentation, transportation, sensing, product realization, automation, and franchise distribution. Fortive also owns a number of other companies, such as, Fluke, Tektronix, Matco Tools, Gilbarco Veeder-Root, Kollmorgen, Gems, and Jacobs Vehicle Systems (inventor of the “Jake brake”).
“We have enjoyed an excellent relationship with our suppliers, Industrial Scientific for many years. As a forward-thinking company who are always looking to improve their products, we are very excited to see what they will now be able to achieve with a massive company like Fortive behind them”, comments Entec Managing Director, Bob Weston.
Entec offer a number of Industrial Scientific products to NZ businesses, including an extensive range portable gas detectors.
Industrial Scientific’s long-held company vision was to completely eliminate death in the workplace by the end of the 21st century. Earlier in 2017 Industrial Scientific shortened this time horizon to the year 2050. Fortive ‘s acquisition of Industrial Scientific will allow an acceleration of the company’s digital strategy and more rapid development of new technology.
This acquisition also increases the financial leverage available to Industrial Scientific with which to make its own strategic acquisitions.
This future development and growth is good news for Entec and for Industrial Scientific’s other worldwide distributors. Industrial Scientific and Entec already enjoy competitive points of difference in the New Zealand market through its unique technology, and this development will help to keep Entec ahead of its competitors.
Media Release on 25 August 2017
Media Contact
Email: gas@entec.co.nz
Phone: +64 9 277 2211
Website: http://www.gasdetectors.co.nz/