- AVX Corporation (AVX +0.3%) completed the acquisition of the previously announced acquisition of the Transportation, Sensing and Control division of TT Electronics, PLC (OTC:TTGPF).
- The purchase comprises TS&C’s manufacturing subsidiaries located in Austria, China, Germany, India, Mexico, Romania, South Korea, the UK and the USA, including R&D, manufacturing and sales office locations.
- In the FY2016, the TS&C Business generated £237.4M (~$30M) of revenue.
- John Sarvis, AVX’s Chief Executive Officer and President, said, “The purchase of the TS&C division from TT Electronics enhances our position in the automotive business and provides further opportunities for expansion. We have been carefully planning for the integration of the TS&C business with AVX and are confident that the combination presents a great opportunity for further growth.”
- Previously: AVX Corporation to acquire the Transportation, Sensing, & Control Division of TT Electronics PLC (July 19)
- Now read: Vicor's New Proprietary Products Will Drive Revenue And Earnings Growth
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