FEI Company Buys the Assets of Its Korean Agent
Published: Jul 09, 2012
HILLSBORO, Ore., July 9, 2012 (GLOBE NEWSWIRE) -- FEI Company (Nasdaq:FEIC), a leading instrumentation company providing imaging and analysis systems for research and industry, today announced that it has purchased certain assets of AP Tech of Suwon, South Korea for $12 million. AP Tech has over 40 employees primarily engaged in sales and service and has been FEI's agent in Korea for over 10 years. AP Tech has helped to make Korea one of FEI's major geographic markets, with over $60 million in product revenue in 2011. In addition, AP Tech had incremental service and spare parts revenue related to FEI products in 2011. FEI expects the acquisition to be slightly accretive to earnings per share in the second half of 2012.