Brown Traffic Products Inc., Davenport, has reached an agreement with Siemens Industry Inc., to acquire certain assets of the traffic signal and cabinet manufacturing business units operated by Siemens in Austin, Texas.
Siemens will remain focused on its traffic management systems and controller business.
"With this acquisition, we are enhancing Brown Traffic's manufacturing division allowing us to continue to produce state-of-the-art traffic products utilized by municipalities at signalized intersections. In addition, this transaction allows Brown Traffic to expand its market across North America through a network of highly-skilled dealerships." said Jeff McAleer, vice president of sales for Brown.
Upon the close of the acquisition, the 82 employees of Siemens' manufacturing units will be integrated into Brown Traffic Products. Brown will maintain the Austin facility along with the other Brown locations in the Midwest. Financial terms of the transaction were not released.
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According to a news release, Brown is a Midwest distributor and manufacturer of Intelligent Traffic System products. Founded in 1969 by Roger L. Brown as the Roger L. Brown Sales Agency, the company served the traffic industry in Minnesota and Iowa. In 1976, William J. Schiltz, purchased the company. Brown acquired Riddle Control Products in 1982 and entered the Illinois market in 1988.