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Slide #20. Gentherm — Global Thermoelectric Inc.
Global Thermoelectric Inc.
Gentherm (NASDAQ-GS:THRM), the global market leader and developer of innovative thermal management technologies, announced today that it has acquired all the stock of privately-held Global Thermoelectric Inc. (GTE), in an all-cash transaction. Based in Calgary, GTE is the world's market leader in industrial thermoelectric generator systems and remote power generation. Specializing in high reliability systems for remote industrial applications, GTE's 2013 revenues were approximately $34 million. Additional terms of the transaction were not disclosed.
Gentherm is a developer and marketer of thermal management technologies for a range of heating and cooling and temperature control applications. Co.'s products provide solutions for automotive passenger climate, battery thermal management, cell connecting systems and patient temperature management within the health care industry. Co. has two reportable segments: Automotive, which is comprised of its global automotive businesses, including its climate comfort systems, automotive cable systems, battery thermal management and automotive electronic and software systems; and Industrial, which includes its patient temperature management systems business and its research and development division.
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