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Spectrum Control Press Release - June 18, 2010 | ||||||
Spectrum Control Completes Acquisition of Sage Laboratories, Inc.- Eighth Microwave Business Acquisition Fairview, PA, June 18, 2010 - - - - Spectrum Control, Inc. (NASDAQ: SPEC), a leading designer and manufacturer of custom electronic products and systems, announced today that Spectrum Microwave, Inc., its wholly-owned subsidiary, has acquired substantially all of the assets and assumed certain liabilities of Sage Laboratories, Inc. (“Sage Labs”), a wholly-owned subsidiary of Ceralta Technologies, Inc. The total purchase price of the acquisition was approximately $6.5 million. Current annualized revenues of Sage Labs’ products are approximately $12 million. Dick Southworth, Spectrum Control's President and Chief Executive Officer, commented, "We are very pleased to complete this transaction, which continues our strategic expansion of microwave capabilities and technologies. This acquisition, our second in the microwave area in the last seven months, and the eighth microwave business acquisition by our current Management Team, further establishes our Company as a leader in custom, high-performance, microwave products and solutions." About Spectrum Advanced Specialty Products: Spectrum Advanced Specialty Products produces coaxial filters & interconnects, advanced ceramics, antennas & assemblies, specialty connectors & harnessing and power filters & film modules. Spectrum Advanced Specialty Products is a Spectrum Control Business. About Spectrum Control: Spectrum Control, an ISO 9001:2000 certified company, is comprised of four businesses: Advanced Specialty Products, Sensors and Controls, Power Management Systems, and Microwave Components and Systems. Spectrum Microwave produces a wide range of microwave components and systems. Products include microwave filters, amplifiers, mixers, voltage-controlled oscillators (VCOs), dielectric resonator oscillators (DROs) and a wide range of RF & microwave systems & assemblies. Spectrum Sensors & Controls Precision Positioning Sensors Operation produces potentiometers and position sensors including rotary, motorized, hollow shaft, linear and fader types, as well as element segments and custom assemblies. The company’s Advanced Thermal Products Operation produces temperature sensing probes and assemblies, PTC and NTC thermistors and resistive temperature detectors (RTDs). Spectrum Power Management Systems produces AC and DC power distribution and remote management systems. Power solutions include off-the-shelf products as well as customized products or systems designed to suit specific user requirements. Contact: Jason Kraus Antenna Design Engineer Spectrum Advanced Specialty Products 1900 W College Avenue State College, PA 16801 www.SpecEMC.com Posted 12/17/2010 | ||||||
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