Trimble Navigation Limited
935 Stewart Drive
Post Office Box 3642
Sunnyvale, CA 94085
Trimble and Hilti Form Joint Venture for the Building Construction Market
Intelligent Construction Tools, LLC to Begin Operations in September
"We are extremely pleased to be partnering with Hilti," said Steven W. Berglund, president and CEO of Trimble. "The joint venture brings tremendous synergy to Trimble and Hilti by providing the expertise and platform to develop long-term strategies to serve the building construction market. The powerful combination of these two companies creates a unique opportunity to change the way work is done on building sites."
"The software and hardware technologies and innovative capabilities of Hilti and Trimble are extremely complementary. The joint venture will allow both companies to broaden their portfolios with additional innovative measuring technologies," said Bo Risberg, CEO of the Hilti Group.
Under the terms of the agreement, Trimble and Hilti will contribute cash and selected technology. In addition, both companies have licensed patents and other intellectual property from their portfolios for use in joint venture products. The proprietary technologies will serve as the joint venture's foundation for product development and commercialization efforts.
The joint venture will supply products to Trimble and Hilti. Each will market, distribute, service and support the products using its independent distribution or direct sales channels.
Intelligent Construction Tools, LLC will be based in Westminster, Colorado and is expected to begin operations in September 2010.
About Hilti Group
The Hilti Group supplies the worldwide construction industry with technologically leading products, systems and services that provide construction professionals with innovative solutions and superior added value. The Group employs some 20,000 persons in over 120 countries who passionately create enthusiastic customers and build a better future. Hilti generated annual sales of CHF 3.8 billion in 2009. Hilti's corporate culture is based on integrity, teamwork, commitment and the courage to embrace change. The headquarters of the Hilti Group are located in Schaan, Principality of Liechtenstein.
For more information about Hilti, visit www.hilti.com.
Trimble's Building Construction Division is a leading innovator of productivity solutions for the building construction contractor. Trimble's solutions target site prep, general, concrete, mechanical, electrical and plumbing contractors on large and small commercial, industrial and residential jobsites. Trimble is focused on delivering solutions that tightly link office based process and information with the field crew—including taking Building Information Models (BIM) and other design data to the field for highly accurate positioning and layout of foundations and mechanical, electrical and plumbing systems. Trimble solutions provide a high-level of process and workflow integration from the design phase through to the finished project—delivering significant improvements in productivity throughout the building construction lifecycle.
Trimble applies technology to make field and mobile workers in businesses and government significantly more productive. Solutions are focused on applications requiring position or location—including surveying, construction, agriculture, fleet and asset management, public safety and mapping. In addition to utilizing positioning technologies, such as GPS, lasers and optics, Trimble solutions may include software content specific to the needs of the user. Wireless technologies are utilized to deliver the solution to the user and to ensure a tight coupling of the field and the back office. Founded in 1978, Trimble is headquartered in Sunnyvale, Calif.
For more information, visit Trimble's Web site at www.trimble.com.
Investor Relations Contact: Willa McManmon of Trimble: 408-481-7838
Media Contact: LeaAnn McNabb of Trimble: 408-481-7808