|
news / 2001 |
 |
|
|
|
|
|
|
|
|
|
| Kaparel Corporation is purchased by Rittal, Herborn, Germany |
|
| March 20, 2001 – Waterloo, Ontario |
|
Rittal (Herborn, Germany) announced it has purchased the employee owned shares of Kaparel Corporation. This announcement follows the purchase in November 2000 by Rittal of the PixStream Incorporated shares of Kaparel Corporation. The purchase provides the funding necessary for Kaparel to continue their growth in CompactPCI backplane solutions to the global telecom market.
In a joint announcement, Kaparel President and CEO, Ben Robitaille and Willi Schmid, Vice President International Sales for Rittal welcomed Kaparel employees to the worldwide Rittal family. They explained the philosophy behind the sale and the intent to set up Kaparel as an independent, fully owned subsidiary of Rittal. The company will retain its identity, management team, current employees and continue with their existing marketing plans, including a move to larger a facility in the Pressworks Technology Park, Waterloo in April 2001.
In his welcoming speech to employees, Mr. Schmid stated, "The intent of the purchase of Kaparel Corporation is to capitalize on the growth the company has experienced in its 18 months of existence and partner the synergies of the two companies in selling to the global telecom market." Schmid added, "The management of Rittal are committed to the employees and customers of Kaparel Corporation, to continue the current successful business formula in the market."
Ben Robitaille commented "The Rittal partnership will provide the needed funding that is necessary to attain the growth to reach sales of $100 million US dollars in the next four years and allow management to focus on the core business." Mr. Robitaille will continue on at Kaparel as President and CEO, reporting to the Board of Directors.
The purchase of Kaparel by Rittal formalizes a long standing agreement and brings together synergistic partners that will provide OEMs with a more integrated solution to assist them in gaining efficiencies in their business, with faster time to market. This will be important in the current economic environment in the telecom market. Kaparel will be exhibiting in the Rittal booth at the International Wireless Communications Expo in Las Vegas, March 20 - 22, 2001
Under the terms of the agreement, no financial details were disclosed |
About Kaparel |
|
Kaparel is an ISO 9001:2000 registered company that develops, manufactures, and markets electronic packaging solutions and high-speed backplanes to the global Converging Communications market. From its pioneering work in CompactPCI bridge designs, Kaparel has quickly become a leader in many aspects of high-speed backplane architecture technology and has a library of over 500 high-speed custom designs including AdvanceTCA.
Kaparel's catalog of product includes a complete line of high slot count, hot swap and high availability backplanes and high quality electronic packaging products and services for telecommunications and embedded computer manufacturers. Founded in 1996, Kaparel is based in Waterloo, Ontario - Canada's Technology Triangle and is a part of Rittal International, the world's largest electronic enclosure manufacturer with offices in over 55 countries. |
|
Media Contact
Michael Pichna · Marketing Specialist · Kaparel Corporation
T: 519.725.0101 Ext.232 F: 519.725.0414 · E: marketing@kaparel.com · www.kaparel.com
 BACK
|
|
|
|
Mountain View Alliance Conference , March 11th -12th San
Francisco, CA
June 17th to 19th; LasVegas NV