NEWARK, NY – EMS firm IEC Electronics Corp. has acquired all assets of Celmet Corp. in a cash transaction worth approximately $2 million.

A manufacturer of metal chassis and assemblies, Celmet had revenue of just over $3.6 million in 2009.

“IEC outsources millions of dollars of chassis assemblies annually. Celmet is a successful, well managed small business, serving customers similar to those of IEC in the military and industrial markets. The acquisition leverages the existing customer base of both companies and enables us to extend our capabilities in terms of products and services we can offer our customers,” said CEO W. Barry Gilbert.

Tom Guliani will be the director of operations responsible for the ongoing operation of the business, he added.

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