Greatbatch Announces Agreement to Acquire EAC

Wednesday, November 07, 2007
Greatbatch, Inc. (NYSE:GB) announced that its subsidiary, Electrochem Commercial Power, signed a definitive asset purchase agreement to acquire Engineered Assemblies Corporation (“EAC”) for approximately $12m in cash. Greatbach expects to close this transaction in November 2007. EAC, based in Teterboro, New Jersey, with operations in Suzhou, China, is a leading provider of custom battery solutions and electronics integration focused on rechargeable battery systems. EAC complements and extends the array of markets Electrochem currently serves, such as military and aerospace, oceanographic and seismic surveying, and other industrial markets. In addition to these areas, EAC also supplies power solutions for external medical devices such as automated external defibrillators, infusion pumps, patient monitoring devices and MRI equipment. Greatbatch anticipates that EAC will have annual sales in the range of $20-$23m for 2007. Excluding one-time purchase accounting adjustments, such as in-process R&D charges, earnings are expected to be neutral in 2007 & 2008 and accretive thereafter.
Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

RoRo Ship Enters Operation for WWL

Wallenius Wilhelmsen Logistics welcomes into operation the M/V Thermopylae, the first of its new generation of Post Panamax HERO (High Efficiency RoRo) PCTC vessels.

Containership Becomes Largest to Sail the Thames

The Munkebo Maersk became the largest ship to ever sail up the River Thames as it called at DP World London Gateway, the U.K.’s newest deep-sea port hub. The 399-meter-long,

Rolls-Royce to Power Zhuhai Ferries

Rolls-Royce has been selected to supply waterjets and high speed MTU diesel engines to power two new aluminium catamaran fast ferries for Chinese ferry operator

 
 
Maritime Security Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3027 sec (3 req/sec)