Photocircuits Announcement Expected Today
Published: 30 March 2006
by Mike Buetow
GLEN COVE, NY -- An announcement on the sale of Photocircuits, one of the largest and oldest PCB manufacturers in North America, is expected later today.
A deal with investment firm American Pacific Financial Corp. is expected to be announced by the company shortly, according to persons with close knowledge of the deal.
In February a federal bankruptcy court judge gave conditional approval to purchase the PCB maker in a deal valued at around $43 million.A deal with investment firm American Pacific Financial Corp. is expected to be announced by the company shortly, according to persons with close knowledge of the deal.
Photocircuits, whose history dates to the 1950s, filed for bankruptcy protection in October. At its peak, the firm had annual sales of about $400 million. Last year's revenues were likely around $165 million.
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