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W. C. Heraeus Becomes Majority Shareholder of Vadnais Technologies Corporation

11 Aug 2004 - W. C. Heraeus GmbH & Co. KG, a subsidiary of the globally active precious metals and technology group Heraeus Holding GmbH, became 80% shareholder of Vadnais Technologies Corporation effective by August 1st.
 
With this merger the Medical Components Division of W.C. Heraeus GmbH & Co KG continues to expand the development of its product portfolio towards technologically sophisticated materials and components in markets growing at an above average rate. Specifically this transaction fulfills the goal to increase the presence of the medical group in the US and to establish a facility in Minnesota, USA. With this acquisition, the Medical Components Division of W.C. Heraeus will employ over 300 people at facilities in Chandler, AZ, and St. Paul, MN, in Hanau, Germany and Cossonay, Switzerland.
 
Heraeus-Vadnais, Inc. will retain the current Vadnais Technologies Corporation facilities and its well-experienced 90 coworkers. Vadnais Technologies Corporation is one of the top three providers of high precision coiled wire components and assemblies to US Medical Device OEMs. Its focus has been primarily on interventional cardiology and neurology applications.
 
The Medical Components Division of W. C. Heraeus develops, produces and distributes a wide range of primarily implantable, metal-based components for stimulation devices as well as for cardiovascular intervention such as electrodes, cases for cardiac pacemakers and defibrillators, micro precision parts and various semi-finished products.
 
The Management Team of the Medical Components Division is very excited about this merger, as both companies are complementary in product range and market approach. Therefore our customers will gain a broader range of technologies and very sophisticated engineered product solutions.