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PSI Integrates 100 Percent of Malaysian inControl Tech Group


Expansion of export structures in Southeast Asia, India and the Gulf region

As further step in the strategy “Grow East!” PSI AG has acquired 100 percent of the shares of inControl Tech Sdn Bhd, Kuala Lumpur, Malaysia. inControl Tech is a company specialized in control systems and automation technology for energy suppliers, infrastructure and industry. With more than 120 employees and subsidiaries in Thailand, Bahrain and India, the fast growing company expects sales of at least 15 million Euros in 2009.

PSI and inControl Tech have acquired and successfully completed a number of major projects totaling in the double-digit millions over the last five years. With the acquisition, PSI will have direct access to the growing markets in Southeast Asia, India and the Middle East. inControl Tech already employs 25 experts trained in PSI technologies. PSI gets access to low cost engineering and manufacturing capacity. This will allow PSI to tap into a larger pool of highly skilled engineers in the region, thus giving PSI opportunity to lower cost in services and equipments.

The management of PSI and inControl Tech see huge potential in the target markets for fast and profitable growth of the business. inControl Tech expects an EBIT margin of around 15% in 2009. The deal is based on a combination of a cash component and shares.

PSI AG develops and integrates individual solutions, on the basis of its own software, for the management of energy networks (electricity, gas, oil, water, heat), cross-company production management (steel, mechanical engineering, automotive, logistics) and infrastructure management for telecommunications, transport and safety. PSI was founded in 1969 and currently employs more than 1,100 persons in the group.

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