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Slide #30. Raven Industries — SBG Innovatie BV and Navtronics BVBA
Raven Industries (NASDAQ:RAVN)
SBG Innovatie BV and Navtronics BVBA
Raven Industries, Inc. (Nasdaq:RAVN) today announced that its Applied Technology Division (ATD) has acquired SBG Innovatie BV and its affiliate, Navtronics BVBA. Headquartered in Middenmeer, Netherlands, SBG manufactures advanced GPS steering systems for a variety of agricultural applications. The acquisition broadens Raven's guided steering system product line by adding high-accuracy implement steering applications. Additionally, SBG's headquarters will become the new home office for Raven in Europe, expanding the company's global presence and reach into key European markets. The purchase is not expected to have a material impact on Raven's fiscal 2015 results.
Raven Industries is a technology company providing a range of products to customers within the industrial, agricultural, geomembrane, construction, commercial lighter-than-air and aerospace/defense markets. Co. has three reportable segments: Applied Technology Division, which includes application controls, GPS-guidance steering systems, field computers, automatic boom controls, information management tools, and injection systems; Engineered Films Division, which produces plastic films and sheeting for geomembrane, agricultural, construction, and industrial applications; Aerostar Division, which provides products that include high-altitude stratospheric balloons and radar systems.
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Strong Buy (3.65 out of 4)
(ranked higher than approx. 71% of all stocks covered)
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