Jervis B. Webb Company Announces Acquisition of Mentor AGVS

Webb Company expands automatic guided vehicle capabilities

FARMINGTON HILLS, Mich., March 20 -- Jervis B. Webb Company -- a world leader in material handling solutions -- today announced the acquisition of Mentor AGVS, a supplier of Automatic Guided Vehicle (AGV) systems based in Warrensville Heights, Ohio. Webb acquired Mentor AGVS from Formtek Metal Forming, Inc., a subsidiary of Mestek, Inc. . The terms of the transaction were not disclosed.

The addition of Mentor AGVS expands Webb's product line to include heavy- duty AGVs that transport loads of up to 100 tons, diesel-electric powered vehicles, and outdoor vehicles. The acquisition also enhances Webb's navigation technology offerings by adding laser guidance to its proven wire and inertial guidance systems.

"The acquisition of Mentor AGVS solidifies Webb's position in the growing AGV market by broadening our resources and applications," said Jonathan Ball, Webb's senior vice president and CFO. "We now have the in-house design, engineering, and manufacturing capability to provide a full range of AGV products for a variety of industries."

All key employees from Mentor AGVS have joined the Webb Company. Operations will remain temporarily in Warrensville Heights, Ohio. Formtek Metal Forming will continue to operate from its facilities in Cleveland, Ohio, and focus on its core business of designing and manufacturing superior metal forming equipment for the metal building, flexible fabrication, fenestration industries, as well as general industrial roll forming.

As a result of the transaction, Webb has also entered into an agreement with Danaher Motion SARO AB, the world's largest supplier of AGV navigation, positioning, guidance and control technology. Under the agreement, Danaher Motion SARO AB's technology will become available on Webb AGV products. Danaher Motion SARO AB is a part of Danaher Motion, a leading global manufacturer of electromagnetic and mechanical motion control solutions that help original equipment manufacturers (OEMs) build better machines, faster. Danaher Motion is a subsidiary and a strategic business platform of Danaher Corporation.

Webb, which has been a leader in AGV technology for over 40 years, is unveiling its new SmartLoader(TM) automatic trailer loading AGV at the Material Handling Industry of America's NA 2006 trade show in Cleveland from March 27 to 30.