Methode Electronics, a manufacturer of electro-mechanical devices, has acquired business assets of Hetronic Holding, a provider of industrial safety radio remote controls. Methode is acquiring operations in Malta, the Philippines and the United States, and a sales and marketing center in Germany, for USD 53.6 million in cash. The transaction is anticipated to be accretive to Methode’s fiscal year 2009 earnings.

Hetronic employs more than 500 people worldwide and provides application specific and standard controls to many different industries, such as material handling, transportation, mining, military, agriculture and construction. The company was founded by Max Heckl in 1982 as Heckl Elektronik and changed to Hetronic Steuersysteme in 1986. The annual revenue is about euro 45 million. Methode has a 12-month sales through June 2008 of approximately USD 551 million.