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FTG Completes Acquisition of Filtran Microcircuits |
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Written by Philip Buonpastore
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Wednesday, 02 January 2008 |
TORONTO -
Firan Technology Group (FTG) announced today that it has acquired substantially all
of the assets from Filtran Microcircuits, based in Ottawa, Ontario which manufactures microwave PCBs for
high frequency applications.
Fox
Business News reports that FTG expects the acquisition to increase its presence
in very high frequency circuit board manufacturing. This market is a growing
segment that includes aerospace and defense applications. Under the terms of
the acquisition, FTG has acquired advanced processing equipment, process
know-how, all of Filtran's customer contracts and Filtran’s working capital.
"We
are excited about this deal as it enables FTG to continue its strategy of
consolidating printed circuit board manufacturers into a larger, more capable
company that can compete on a world scale", commented Brad Bourne,
President and CEO.
Joe
Ricci, CFO added "For FTG, after a short transitional period, this
transaction is expected to boost activity in both our Toronto and Chatsworth
facilities and should generate positive contribution margin for both
sites". |
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