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Article: Merrimac Enters Into Stock Purchase Agreement with Filtran Microcircuits Inc.
- Article from:
- PR Newswire
- Article date:
- December 16, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. 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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WEST CALDWELL, N.J., Dec. 16 /PRNewswire/ -- Merrimac Industries, Inc. (Amex: MRM) announces that it has entered into a stock purchase agreement to acquire Filtran Microcircuits Inc. ("Filtran") of Ottawa, Ontario, Canada, a leading manufacturer of microwave micro circuitry. The cost of the acquisition to Merrimac should be approximately $4.7 million. The transaction is subject to satisfactory completion of due diligence by Merrimac, customary conditions and is anticipated to be completed in January 1999.
Chairman and CEO Mason N. Carter commented: "A leading source for the manufacture of micro circuitry, Filtran is a strategic fit for our 'Goal of Profitable ...