Paris – Hutchinson SA is to acquire Midé Technology Corp., a US company specialising in smart materials technologies and mechatronics.
The acquisition is subject to clearance from US authorities, the French major announced 8 Jan. Terms of the deal were not included.
In a written statement to ERJ, Hutchinson said it expects to close the deal in the second quarter of 2019.
Based in Medford, Massachusetts, Midé develops products such as seals and wearable sensors for the aerospace, automotive and manufacturing sectors.
Hutchinson said it expects the 50 employee-company to enhance its development of “high-value content solutions.”
"Midé Technology reached a double-digit sale in 2017. We expect a significant growth due to their research capabilities [and] expertise in smart materials and electronic," Hutchinson told ERJ.
Post-acquisition, Hutchinson said it intended to keep the “doer” culture, and "hybrid capabilities" in research & innovation within Midé.
"We also plan to develop synergies between Hutchinson activities... and Midé Technology to contribute to the future of mobility," the company added.