Moog has purchased Pieper, a Schwerte, Germany-based manufacturer of video products and integrated vision systems for security and extreme industrial environments. Pieper had 2009 revenues of US$14 million.
"Pieper’s systems expertise and hardened video products for extreme environments expand our ability to solve the most difficult vision system problems for our customers," said Jay Hennig, Group President of Moog’s Space and Defense segment. "Their headquarters in Schwerte will provide a base from which our security and surveillance businesses can provide superior, local service to our European customers."
The acquisition is expected to add approximately $6.37 million to Moog’s sales for the remaining five months of the 2010 fiscal year. As a result of first year purchase accounting adjustments, the acquisition is expected to be neutral to previously forecasted fiscal year 2010 earnings per share.