Nordson Corporation Expands Test and Inspection Offering with Acquisition of MatriX Technologies GmbH

Nordson Corporation (Nasdaq: NDSN) today announced it has acquired Munich, Germany-based MatriX Technologies GmbH, a leading manufacturer of automated X-ray inspection (AXI) equipment used to ensure the quality of electronic printed circuit boards, critical electronic devices and fully assembled products in consumer, automotive and other industrial end markets worldwide.

MatriX employs approximately 100 people at its German headquarters and branch offices in Singapore, China and the USA. The business will operate as part of Nordson’s Advanced Technology Systems segment and will be integrated into the company’s existing test and inspection platform which includes the Nordson DAGE X-ray and bond test and YESTECH automated optical inspection product lines. MatriX revenues for 2014 were approximately €26 million. Nordson expects the acquisition of MatriX to be accretive to earnings in the first full year of operation. Terms of the deal and financial details of the business were not disclosed.

“MatriX solutions are aligned with the market trend towards X-ray inspection of critical electronic parts, advanced components and final product assemblies manufactured in high-volume series production,” said Michael F. Hilton, Nordson President and Chief Executive Officer. “Key drivers for AXI inspection equipment include increased board complexity from further product miniaturizations and the growing trend towards fast and fully automated, less labor intensive production lines requiring high-speed in-line AXI solutions for a 100% process control and yield protection. By adding MatriX to our strong existing test and inspection platform, Nordson can now offer customers a full range of automated and manual, in-line and batch X-ray inspection solutions (AXI and MXI), automated optical inspection systems (AOI), and bond testers.”

MatriX serves a wide range of leading customers in the automotive, consumer electronics, EMS and other industrials manufacturing space. The Company’s proven business model is based on profitable revenue streams from the sale of high-end X-ray inspection system solutions and the offering of integrated after-sales services over the entire equipment lifecycle.

MatriX Managing Director Eckhard Sperschneider said, “With the combination of Nordson DAGE’s and MatriX’s complementary X-ray inspection system product lines in the area of MXI and AXI, we can now offer our industrial customers a complete range of X-ray inspection system solutions for the entire product development and manufacturing cycle, starting from high-resolution X-ray inspection equipment for sample tests in lab and R&D environments up to high-speed AXI in-line solutions for a 100% inspection of critical parts and components in high-volume series production.” MatriX Managing Director Marc Sperschneider added, “We are looking forward to joining Nordson and capitalizing on the wide range of synergies in core X-ray technologies, joint R&D and new product development which will further strengthen our leading position in the AXI market.”

Nordson Corporation engineers, manufactures and markets differentiated products and systems used for the precision dispensing of adhesives, coatings, sealants, biomaterials, polymers, plastics and other materials, fluid management, test and inspection, UV curing and plasma surface treatment, all supported by application expertise and direct global sales and service. Nordson serves a wide variety of consumer non-durable, durable and technology end markets including packaging, nonwovens, electronics, medical, appliances, energy, transportation, construction, and general product assembly and finishing. Founded in 1954 and headquartered in Westlake, Ohio, the company has operations and support offices in more than 30 countries.