Industrial News Releases

1  April  2002

Moog Purchases Controlling Interest in TSS

Moog Inc. (NYSE:MOG.A and MOG.B ) announced today that it has acquired eighty-one percent of the stock of Tokyo Precision Instruments Co. Ltd. (TSS) from MELCO (Mitsubishi Electric Corporation) and other shareholders.

Located near Nagoya, Japan, TSS was founded in 1953 and is a manufacturer of high-performance servovalves, hydraulic systems, and pneumatic components. While the company’s market is predominantly in Japan, it also exports to the United States and other countries. Sales for TSS for the latest 12 months were about $8 million.

“TSS is Moog’s first acquisition in Japan and it offers us significant synergies,” said Sean Gartland, General Manager of Moog Pacific. “The company has developed a good reputation for high quality products by continuously investing in product development. Their addition not only strengthens our existing portfolio, particularly in direct drive valves and pneumatic actuators, but brings with it strong aftermarket potential.”

Moog Inc. is a worldwide manufacturer of precision control components and systems. Moog’s high-performance actuation products control military and commercial aircraft, satellites and space vehicles, launch vehicles, missiles and automated industrial machinery. The Internet address for Moog Inc. is http://www.moog.com.