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BIZCHINA / Overseas Investment |
Checkpoint purchase expands its China presence(Agencies)
Updated: 2007-11-13 17:38 Checkpoint Systems Inc acquired two companies for $37 million, expanding its presence and manufacturing capabilities in China. The Thorofare, New Jersey, company bought SIDEP of France, a provider of radio frequency electronic security products. As part of that transaction, it also purchased Shanghai Asialco Electronics Co Ltd, a China-based manufacturer of electronic security labels. SIDEP is the majority owner of Asialco and Checkpoint bought the remaining interest in Asialco from its minority shareholders. The acquisitions are expected to add approximately $20 million of annual revenue and be neutral to Checkpoint's earnings in 2008, the company said. Checkpoint makes products and labels that help retailers deter theft. |
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