ST. LOUIS (AP) -- Engineered products supplier ESCO Technologies Inc. said Monday it paid an undisclosed amount for LDIC GmbH, a European company that makes diagnostic testing systems for electric utilities.
The acquisition is expected to add to ESCO's earnings in fiscal 2009, excluding the impact of purchase accounting, which has yet to be determined. It also gives ESCO a base of operations in Germany and Switzerland, the company said.
LDIC's 2008 sales and percentage of earnings before interest, taxes, depreciation and amortization are expected to be about $10 million and 18.5 percent, respectively.
LDIC supplies "partial discharge" diagnostic testing instruments and systems that assess the integrity of high voltage power delivery equipment. The company also provides surface acoustic wave sensor technology so utility customers can remotely monitor the condition of high voltage power lines.
ESCO shares fell 70 cents, or 2 percent, to $39.29 in afternoon trading.