MTD merges with F. Robotics Acquisitions Ltd

Saarbrücken, Germany, 19 May 2017 – Family of brands expands at MTD Products AG. From July 2017, the Israeli company F. Robotics Acquisitions Ltd. will be operating from under the umbrella of the tradition-­‐rich US company MTD.

PRESS RELEASE
May 2017

MTD merges with F. Robotics Acquisitions Ltd

Saarbrücken, Germany, 19 May 2017 – Family of brands expands at MTD Products AG. From  July  2017,  the  Israeli  company  F.  Robotics  Acquisitions  Ltd.  will  be  operating  from  under  the umbrella of the tradition-­‐rich US company MTD. The F. Robotics brand Robomow® is a global market  leader  in  robotic  lawn  mowers  and  will  thus  be  adding  specialist  expertise  to  the  company.

Founded  in  1995  in  Pardesiya,  Israel,  F.  Robotics  Acquisitions  Ltd.  stands  for  22 years’  experience  in  developing  and  manufacturing environmentally friendly and highly innovative robotic lawn mowers. With Europe  as  their  main  sales  market,  their  mowers  have  received  multiple  awards  in  a range  of  product  tests.  Through  this  merge,  MTD  aims  to  leverage  the  specist's trailblazing,  progressive  technology  for  developing  the  entire  MTD  brand  portfolio  in  Europe  and the USA and to build on this expertise in robotic lawn mowers over the long term. As such, the  Robomow  brand  will  be  continued  by  MTD  and  integrated  into  its  existing  international  portfolio.

“Both  MTD  and  Robomow  see  tremendous  opportunities  to  grow  our  brands  through  this  merger  of  our  products  and  talents,”  said  Rob  Moll,  CEO,  MTD  Products.  “Initially,  we  will  be looking to market Robomow technology under our Cub Cadet and WOLF-­‐Garten brands. At the same time, we expect the Robomow brand to profit from MTD’s global reach and presence.”

Posting  annual  increases  of  over  30  per  cent,  the  European  robotic  technology  for  residential  and small garden use segment is already an established growth market. The worldwide market volume for robotic technology currently totals 1.6 billion euros. Boosting demand in the North American market and gaining additional global market share are among the goals MTD will be pursuing going forward, Moll explains further.

Following  the  merge  with  MTD,  headquarters  of  F.  Robotics  Acquisitions  Ltd.  will  remain  in  Pardesiya, Israel. Business operations will continue to be overseen by the existing management team and will be supported by MTD divisions in Europe, North America and the Asia-­‐Pacific with regard to achieving growth and innovation goals.

“For the last 22 years we have been focused on developing innovative technologies and leading robotic  mowing  products.  We  are  excited  to  see  this  investment  reach  its  full  potential  in  the  market  via  MTD’s  leading  brands  and  distribution,”  stated  Udi  Peless,  CEO,  F.  Robotics.  Both companies  have  industry-­‐wide  reputations  for  innovation  in  the  fast-­‐moving  lawn  mower  and  outdoor power equipment markets.

Since its founding in 1995, F. Robotics Acquisitions Ltd. has brought to market six generations of rechargeable robotic lawn mowers for residential use. The models vary in their cutting widths and in their reach, making them suited for use on differently sized lawn areas. All the Robomow robots  are  controlled  electronically  via  an  individually  programmable  schedule  and  automatically drive back to their charging station when needed. While mowing, the Robomow mowers work so quietly that even mowing overnight is possible. On top of the manual controls, a smartphone app is an additional, especially user-­‐friendly option. Via the app, all details of the robotic mower can be called up and mowing times easily specified.

Of the six product series, the Robomow RX series is particularly noteworthy: it is currently the smallest  robotic  lawn  mower  on  the  market  and  was  designed  specifically  for  small  lawns  starting at 150 square metres. This new product development will be presented at the IFA 2017 and is already available in stores from 499 euros.

With the acquisition of F. Robotics Acquisitions Ltd., MTD has completed its now fourth takeover since  2015,  strengthening  the  company’s  technological  edge  and  rounding  out  a  highly  innovative  positioning  going  forward.  The  companies  CORE  Outdoor  Power  (CORE),  Precise Path  Robotics  and  ATT  were  acquired  by  MTD  in  2015.  The  CORE  battery-­‐powered  engine  technology, for instance, allows for significantly higher torque and greater efficiency than other electric motors to date. Precise Path Robotics and its robotic golf lawn mower RG3 add to MTD’s expertise in the specialist area of sports and golf turf care, augmented by the large-­‐scale mowers of ATT for sports turf.

About MTD: 
MTD, the “Modern Tool and Die Company”, with its headquarters in Cleveland, Ohio is one of the world’s largest manufacturer and retailer of motorised gardening tools. MTD Products Inc. was founded  in  1932  by  the  German  engineers  Theo  Moll,  Emil  Jochum  and  Erwin  Gerhard  and  is  family  owned  until  today.  MTD  has  manufacturing  capacities  in  the  USA,  Mexico,  Asia  and Europe and occupies round about 10,000 people in 183 countries worldwide. MTD offers every gardener – whether professional or hobby gardener – a product range from four brands on the European market; Cub Cadet, WOLF-­‐Garten, ARNOLD and also MTD, which covers nearly every application in the garden. Every brand makes its mark through individuality and unmistakable optic. All of the brands compliment a wide spectrum of seeds, fertilizers, hand garden tools and motorised garden tools; from electric lawnmowers to motor hoes and snow blowers all the way up  to  ride-­‐on  mowers  and  lawn  tractors.  For  more  information  on  MTD,  visit www.mtdeurope.com

About Robomow: 
F. Robotics Acquisitions Ltd designs, manufactures and distributes a complete line of Robomow brand  robotic  lawn  mowers  in  markets  around  the  globe.  The  company,  started  in  1995,  is  a leading  manufacturer  and  marketer  focusing  exclusively  on  robotic  lawn  mowers.  Robomow’s state-­‐of-­‐the-­‐art and award-­‐winning mowers are built employing a wide portfolio of unique and proprietary  technologies  developed  over  the  course  of  more  than  two  decades.  Robomow’s products are all inspired by the desire to make life easier and more enjoyable.

Presscontact:

RessourcenReich GmbH
BrandAffairs
Oliver Schütte

Astraturm 7. OG · Zirkusweg 2 · 20359 Hamburg / Germany Tel.: +49 40 80 81 14 210 · Mobil: +49 173 54 999 28 E-­‐Mail: oliver.schuette@brand-­‐affairs.de · Internet: www.mtdeurope.com