Tennant Company (NYSE: TNC), a world leader in designing, manufacturing
and marketing solutions that help create a cleaner, safer world, today
announced that it has completed its acquisition of Sociedade Alfa Ltda.,
maker of the Alfa brand commercial cleaning machines. Terms of the
agreement were not disclosed.
Sociedade Alfa Ltda., based in Sao Paulo, Brazil, with 2007 revenues of
roughly $9 million (USD), is recognized as the Brazilian market leader
in the cleaning industry. Alfa manufactures and sells commercial
cleaning equipment that includes commercial ride-on scrubbers, ride-on
sweepers and walk-behind scrubbers.
Sociedade Alfa’s low cost commercial cleaning
equipment, strong distribution channel and highly-respected service
organization complement the strong line of Tennant’s
industrial products and specialty coatings to provide an enhanced range
of options in the Latin America market, and create a tremendous
foundation for growth.
This is the second acquisition announced by Tennant Company in 2008. The
company recently announced its acquisition of Applied Sweepers, maker of
Green Machines® brand outdoor cleaning
equipment, based in Falkirk, Scotland.
About Tennant Company
Minneapolis-based Tennant Company (NYSE: TNC) is a world leader in
designing, manufacturing and marketing solutions that help create a
cleaner, safer world. Its products include equipment for maintaining
surfaces in industrial, commercial and outdoor environments; and
coatings for protecting, repairing and upgrading concrete floors.
Tennant Company's global field service network is the most extensive in
the industry. Tennant Company has manufacturing operations in
Minneapolis, Minn.; Holland, Mich.; Uden, The Netherlands; Northampton,
United Kingdom; and Shanghai, China; and sells products directly in 15
countries and through distributors in more than 80 countries. For more
information, visit www.tennantco.com.
About Sociedade Alfa Ltda.
Established in 1944, Sociedade Alfa Ltda. has established its market
position through a network of distributors and dealers in Brazil and
other parts of South America. Manufacturer of the Alfa line of
equipment, the company employs approximately 90 people among its three
locations.
Forward-Looking Statements
Certain statements contained in this document as well as other written
and oral statements made by us from time to time are considered
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act. These statements do not relate to
strictly historical or current facts and provide current expectations or
forecasts of future events. Any such expectations or forecasts of future
events are subject to a variety of factors. These include factors that
affect all businesses operating in a global market as well as matters
specific to us and the markets we serve. Particular risks and
uncertainties that may affect the forward-looking statements in this
release include: geopolitical and economic uncertainty throughout the
world; the potential for increased competition in our business;
fluctuations in the cost or availability of raw materials and purchased
components; the success and timing of new products; our ability to
achieve projections of future financial and operating results;
successful integration of acquisitions, including the ability to carry
acquired goodwill at current values; the parties’
abilities to complete the transaction described in this release; and our
plans for growth.
We caution that forward-looking statements must be considered carefully
and that actual results may differ in material ways due to risks and
uncertainties both known and unknown. Shareholders, potential investors
and other readers are urged to consider these factors in evaluating
forward-looking statements and are cautioned not to place undue reliance
on such forward-looking statements. For additional information about
factors that could materially affect Tennant's results, please see our
other Securities and Exchange Commission filings, including disclosures
under "Risk Factors."
We do not undertake to update any forward-looking statement, and
investors are advised to consult any further disclosures by us on this
matter in our filings with the Securities and Exchange Commission and in
other written statements we make from time to time. It is not possible
to anticipate or foresee all risk factors, and investors should not
consider any list of such factors to be an exhaustive or complete list
of all risks or uncertainties.
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