Kimball Electronics Acquires Bayer Healthcare Manufacturing Operation In The UK

Jasper, IN - Kimball Electronics Group, Inc., through its related subsidiaries, has announced the acquisition of the manufacturing operation for Bayer HealthCare's Diagnostics Division located in Bridgend, Wales, UK. Bayer HealthCare's Diagnostics Division operates as part of Bayer Healthcare LLC, a member of the worldwide Bayer Group (NYSE:BAY). Kimball purchased the equipment and inventory, and hired the 164 experienced Bayer employees working at the site, which Kimball will lease from Robert Hitchins Ltd., a local property developer and the new site owner. Kimball Electronics Group, Inc., a subsidiary of Kimball International, Inc. (NASDAQ:KBALB) is a global contract electronics manufacturing services (EMS) company that specializes in durable electronics with applications in the medical, industrial controls, public safety and automotive industries.

"We are very excited about the growth opportunities in the medical market, and the Bridgend team and their capabilities will significantly add to our package of value that we offer to our medical customers," stated Don Charron, President, Kimball Electronics Group.

Kimball will continue to provide manufacturing services to Bayer for the products Bayer currently manufactures at the plant as well as seek new medical customers for the facility. "Bayer and Kimball have had an excellent partnership over the past eight years and our Bridgend agreement further deepens our relationship," added Charron.

Kimball International President and Chief Executive Officer Jim Thyen commented, saying, "This acquisition is one more visible step in our strategy to advance our global capabilities and responsiveness in electronics." Thyen added "We are proud of the reputation earned by our Electronics Group, and we are committed to serving our customers' needs, both as a partner as well as a supplier."

SOURCE: Kimball International, Inc.