Gilbarco Inc. Acquires Postec

Purchase strengthens Gilbarco Veeder-Root product offering in emerging markets

GREENSBORO, N.C. - April 16, 2009 - Gilbarco Inc. has signed a definitive purchase agreement to acquire Postec Data Systems Ltd. of Auckland, New Zealand, pending final closure of the deal. Postec offers a full suite of automation solutions that enable fuel retailers to manage their sites and networks more effectively and efficiently. The Postec portfolio includes hardware and software for forecourt control, wet stock management, outdoor payment and central reporting.

Postec’s installed base of almost 10,000 sites spans both multi-national and regional oil companies in Oceania, India, Southeast Asia, Middle East and Africa. Postec enjoys strong brand recognition, with a fit-for-purpose product suite that meets the growing automation needs of customers in these markets.

“The acquisition of Postec, with their outstanding solutions and development expertise, enhances Gilbarco Veeder-Root’s portfolio of automation tools for innovative fuel retailers in these regions,” said Martin Gafinowitz, president, Gilbarco Veeder-Root. “The company’s rich product portfolio of hardware, software and interfaces specifically designed for these markets, coupled with Gilbarco’s strong sales, distribution and service network, will be of great value to our customers.”

Postec will retain its name, as a division of Gilbarco Veeder-Root. Cyrus Richardson will remain at Postec as managing director, with Michael Simpson continuing as technical director. Postec will continue to operate from their existing facility in Auckland, New Zealand.

Gafinowitz added, “Customers will benefit from the powerful combination of Gilbarco’s global scale and investment capability, coupled with Postec’s outstanding product range and technical expertise.”