|
Written by Chelsey Drysdale
|
|
Thursday, 08 May 2008 |
NEWARK, NY – EMS provider IEC Electronics Corp. has signed a letter of intent to acquire Val-U-Tech Corp., a privately held supplier of wire harness assemblies in Victor, NY. No financial terms were disclosed and a fiscal third-quarter closing is expected.
Val-U-Tech has annual sales of about $11 million and supplies military, medical and industrial customers.
The combined companies will have 360 employees with revenues in 2009 of approximately $70 million. The combination will be accretive to IEC shareholders.
The transaction is subject to shareholder approval.
|
News 
