Colfax Corporation Announces Acquisition of Fairmount Automation

RICHMOND, Va., Nov. 30, 2007 -- Colfax Corporation announced today it has completed the acquisition of Fairmount Automation, Inc. ("Fairmount"), a manufacturer of proprietary programmable automation controllers headquartered in Newtown Square, Pennsylvania. Terms of the transaction were not disclosed.

Fairmount, with 34 associates, was founded in 1996 and has worked closely with the U.S. Navy to provide critical control systems for new ship designs as well as retrofit installations. Fairmount's products are currently installed on over 30 percent of the U.S. Navy fleet. Most recently Fairmount was awarded a sole-source contract to design and develop an automated damage control system for the DDG-1000 Destroyer platform.

Fairmount's control systems are highly configurable and offer customers maximum application flexibility and redundancy in a severe duty package that meets rigorous military specifications. Through its highly experienced staff, Fairmount not only develops custom control algorithms and software for process control and machinery automation applications, but also provides its customers engineering services and project integration support.

Colfax President and CEO John A. Young commented, "The acquisition of Fairmount broadens our defense product offering and strengthens our positioning to serve the fluid handling needs of the U.S. Navy. Additionally, the Fairmount controls platform, when integrated with our broad pump portfolio, will allow us to offer greater value to our industrial customer base."

About Colfax Corporation

Colfax Corporation is a world leader in the manufacture of fluid-handling products including positive displacement industrial pumps, valves, and systems used in oil & gas, power generation, marine and a variety of other applications. Key product brands include, Allweiler, Fairmount Automation, Houttuin, IMO, LSC, Portland Valve, Tushaco, Warren Pumps and Zenith.


About Fairmount Automation, Inc. 

Fairmount Automation is a leading provider of high-performance distributed control solutions for extreme environments. The Company is an original equipment manufacturer of rugged programmable automation controllers used to monitor and regulate industrial processes and machinery. It also provides advanced engineering services to investigate and develop automated damage control systems for U.S. Navy surface combatants, including the Navy’s next generation land attack destroyer. The Company is developing distributed intelligent systems that automatically detect and isolate equipment failures and reconfigure themselves to sustain the ship’s mission. The Company is based in Newtown Square, Pennsylvania. For more information, please visit www.fairmountautomation.com.