SatCon Technology Corp. has sold its Ling Shaker and Amplifier product line to QualMark Corp. of Denver, Colorado for approximately $2.3 million in cash.
Under the Ling Products name, SatCon has manufactured and sold electrodynamic shakers through the Power Systems Division located in Worcester, Massachusetts. This asset sale includes the intellectual property, manufacturing equipment and tooling and inventory for the Ling shaker products and the Kimball shaker accessories line.
"Selling this business will facilitate SatCon's Power Systems increasing focus on the alternative energy markets, providing high power solar, fuel cell and wind inverters and precision motors and components to the hybrid electric vehicle markets" noted Millard Firebaugh, SatCon President and Chief Operating Officer. He added that, "We are very pleased to sell this business to a quality company such as QualMark that has many years of experience in the shaker market."
QualMark President Charles Johnston said, "We are pleased to be able to obtain the rights to the strong brand name of the Ling and Kimball Products. We believe that this brand, combined with our expertise in the service and repair of these products will give us a prominence in this specialty test and measure marketplace." Mr. Johnston continued, "We look forward to relocating this business to our QualMark ACG facility in West Haven CT as soon as possible, and will take over the management of this product line immediately."
SatCon Power Systems Division will continue to design, manufacture, market and service the Starsine variable frequency converters under the SatCon trademark.
