Teleflex Marine signed an agreement to sell its Sarasota, FL-based instrumentation division to Veethree Instruments of North America.
The acquisition of Teleflex Marine's instrument division will allow Veethree to further expand in the marine marketplace. Veethree is a manufacturer of instrumentation for the industrial, defense and OEM marketplaces.
“We hired 55 people from [Teleflex's] team and we've set up a new plant only four miles from the current Teleflex facility,” Shekhar Tewatia, Veethree North America's vice president. Veethree's new facility is located at 2420 Trail Mate Dr., Sarasota, FL, 32423.
The transfer of the acquisition is expected to be complete by the end of March.
“By April 1st we'll be operational in the new facility. There will be no interruption in service at all,” said Tewatia.
According to Teleflex, Sierra, it's aftermarket distribution division will continue to supply all existing gauge lines to the North American aftermarket based on an agreement with Veethree.