Spectrum Control Inc., a designer and manufacturer of electronic control products and systems, announced that Spectrum Microwave Inc., its wholly owned subsidiary, has acquired substantially all of the assets and assumed certain liabilities of EMF Systems Inc. (EMF). EMF, based in State College, PA, designs and manufactures custom oscillator-based products, including phase-locked oscillators and synthesizers. The total purchase price of the acquisition was approximately $2.3 M.
Dick Southworth, Spectrum Control’s president and chief executive officer, commented, "With this acquisition, we continue to execute our strategic plan of product expansion, particularly in the area of complex assemblies and systems. In addition to a broad line of oscillator components, EMF primarily designs and manufactures integrated microwave assemblies (IMA). These sophisticated products are used in numerous military and commercial applications including military radar systems, secured communications and commercial weather radar. The IMA product offerings included with this acquisition are a natural complement and extension to our current Microwave Components and Systems Business. Our microwave business, which increased annual revenues by 27 percent last year substantially through organic growth, remains a key focus of our overall business strategy. Based upon current market conditions and customer order rates, we expect EMF product sales to approximate $3 M during the next 12 months. Over the next few months, EMF operations will be relocated and consolidated into our existing facilities in State College, PA."
 | |
| |
 | |
|