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Article: Germany: Technitrol Completes Divestiture of Medtech Components Business.
- Article from:
- TendersInfo
- Article date:
- June 27, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: kusumv03
Technitrol, Inc. announced today that the company has completed the previously announced sale of its Medtech components business ( Medtech ) to Altor Fund III ( Altor ). The sale price was approximately $200 million in cash. Medtech includes the former Sonion A/S s balanced armature receivers, high-end microphones and electromechanical devices for the hearing aid, high-end audio headset and medical device markets. Remaining with Technitrol will be the former Sonion business engaged in high-volume transducers mainly for speakers used in cell phones and similar communication devices.
Net proceeds from the divestiture are being applied to ...