SANTA ANA, CA – The Committee on Foreign Investment in the US says it has no unresolved national security concerns over TTM’s proposed acquisition of certain subsidiaries of Meadville Holdings.

As previously reported by PCD&F, TTM plans to acquire the PCB operations of Meadville, the Hong Kong-based conglomerate.

Because the deal involves a foreign company, and TTM is a major supplier to the US Department of Defense, the deal was subject to review.  The DoD requires TTM maintain facility security clearances under the National Industrial Security Program.

As a result of the acquisition, Meadville’s largest shareholder – a Hong Kong citizen – will hold a significant minority equity interest in TTM. The NISP requires a corporation maintaining a facility security clearance take steps to mitigate foreign ownership, control or influence.

After closing the acquisition, TTM expects to enter into a Special Security Agreement with the DoD.