Aeroflex Incorporated Announces Plan to Divest Radar Business
30 6월 2007 - 5:32AM
Business Wire
Aeroflex Incorporated (Nasdaq Symbol: ARXX), announced today its
decision to divest its radar systems development and manufacturing
business located in Powell, Ohio and to seek a strategic buyer.
This is one of three divisions in the Company�s Powell operation.
The two other divisions, synthetic test systems and broadband test
equipment, will be retained. About Aeroflex Aeroflex Incorporated
is a global provider of high technology solutions to the aerospace,
defense and broadband communications markets. The Company�s diverse
technologies allow it to design, develop, manufacture and market a
broad range of test, measurement and microelectronic products. The
Company�s common stock trades on the Nasdaq National Market System
under the symbol ARXX and is included in the S&P SmallCap 600
index. Additional information concerning Aeroflex Incorporated can
be found on the Company�s website: www.aeroflex.com. Forward
Looking Statements This release contains forward-looking
statements, which are subject to various risks and uncertainties.
Discussion of risks and uncertainties that could cause actual
results to differ materially from management�s current projections,
forecasts, estimates and expectations is contained in Aeroflex�s
filings with the SEC. Specifically, Aeroflex makes reference to the
section entitled �Risk Factors� in its annual and quarterly
reports. In addition to the risks and uncertainties set forth in
Aeroflex�s SEC reports or periodic reports, the proposed
transaction mentioned in our press release dated May 25, 2007 could
be affected by, among other things, the occurrence of any event,
change or other circumstances that could give rise to the
termination of the merger agreement; the outcome of any legal
proceedings that may be instituted against Aeroflex and others
related to the merger agreement; failure to obtain stockholder
approval or any other failure to satisfy other conditions required
to complete the merger, including required regulatory approvals;
risks that the proposed transaction disrupts current plans and
operations and the potential difficulties in employee retention as
a result of the merger; the amount of the costs, fees, expenses and
charges related to the merger and the execution of certain
financings that will be obtained to consummate the merger; and the
impact of the substantial indebtedness incurred to finance the
consummation of the merger. Additional risk factors also include
events and circumstances that may make it difficult to successfully
divest the Company�s radar systems business or to successfully
integrate the business of MicroMetrics, Inc., which was acquired on
April 16, 2007.
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