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Fairview, PA, June 14, 2010 - - - - Spectrum Control, Inc. (NASDAQ: SPEC), a
leading designer and manufacturer of custom electronic products and systems,
announced today that it has signed a definitive agreement to acquire
substantially all of the assets and assume certain liabilities of Sage
Laboratories, Inc. ("Sage Labs"), a wholly-owned subsidiary of Ceralta
Technologies, Inc.
Sage Labs, with operations in Hudson, NH, designs and manufactures custom RF
and microwave components and subsystems including filters, diplexers,
multiplexers, hybrids, and digital frequency discriminators. The transaction is
expected to close before the end of June.
Dick Southworth, Spectrum Control's President and Chief Executive Officer,
commented, "This acquisition reflects our strategy of continuously expanding our
product and technology capabilities through acquisitions, as well as internal
research and development. Sage Labs' subsystem product offerings and its
suspended substrate stripline technology are natural complements to our current
Microwave Components and Systems Business. A majority of Sage Labs' products are
used in defense and aerospace applications, including missile defense systems,
electronic warfare, military aircraft, and radar systems." Current annualized
revenues of Sage Labs' products are approximately $12 million.
About Spectrum Control
Spectrum Control, Inc. is a leader in the design, development and manufacture
of high-performance custom electronic solutions for the defense, aerospace,
communications, and medical industries worldwide. For more information about
Spectrum Control and its products, please visit the Company's website at www.SpectrumControl.com.
Corporate Headquarters 8031 Avonia Road Fairview,
PA 16415 Phone: 814/474-2207 Fax: 814/474-2208 |
Investor Relations John P. Freeman, Senior Vice
President and Chief Financial Officer Spectrum Control, Inc. Phone:
814/474-4310 |
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