Start-up of IPTE Factory Automation NV

Within the context of an extraordinary partners’ meeting the selling has been confirmed and approved on March 2, 2010 and is thus formally executed. The new company will operate under the name of IPTE Factory Automation (FA) NV. The buy-out was accompanied by a comprehensive backup of the financial requirements. Huub Baren Senior declares: „The IPTE FA stands on a solid financial foundation. This is the condition – sine qua non – for the long-ranging stability of the company. We will continue to develop our proved and tested and well-established products and services for our regular clientele. And we will continue to offer those products to the global market of automation solutions. All places of location and all members of staff will be kept in operation.“ The headquarters of IPTE FA will be the city of Genk in Belgium. IPTE FA operates a global network of sales and services in more than 15 sites in Europe, America and Asia. There is also a network of nine engineering and production sites in Belgium, Germany, France, Portugal, Spain, Mexico, Estonia, Rumania and China. At present IPTE FA employs 450 members of staff. At the German site in Heroldsberg near Nuremberg, there are some 100 members of staff on the job. Executive directors of IPTE FA are Hubert Baren Junior and Vladimir Dobosch. Huub Baren Senior on the other hand, brings in his comprehensive and long-lasting expertise as majority shareholder. Huub Baren Senior, one of the founding members of IPTE NV and majority-shareholder of IPTE FA NV describes the business objectives that were not affected by the buy-out: „We want to stay the leading, independent and global partner of the electronics industry. By well-directed investments into research and development we have earned our position as a favored partner for testing and automation technology solutions to all leading electronic manufacturers worldwide. And we want to expand this reputation still further. Still we are going along with our customers on a global scale at their company sites.“