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ADDvantage Technologies Group, Inc. Completes Acquisition of Jones Broadband International.


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, Okla. -- ADDvantage Technologies Group, Inc. (AMEX AMEX

See: American Stock Exchange
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AEY Auger Electron Yield
), today announced that it had completed its acquisition of Jones Broadband International. Jones will continue to operate as a ADDvantage subsidiary from its Oceanside, California Oceanside is the third largest city in San Diego County, California. The city has a population of 173,303. Together with Vista and Carlsbad, it makes up the Tri-City area. The city is just south of U.S.  offices.

With $6.3 million in annual sales for its fiscal year ended December 31, 2004, Jones is a leading provider of television cable equipment and service to the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area.  and Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. . Jones has a large customer base in Latin America which represents approximately 30% of its annual sales.

"We are delighted to have acquired Jones Broadband International from its sole owner, Tony Jones. This company was established in 1988 and shares our philosophy in providing quality products and operates a world-class service center," said Ken Chymiak, ADDvantage's President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . The employee base of Jones Broadband will continue with the company.

"Jones Broadband has worked with our company for the past 17 years," commented David Chymiak, Chairman of ADDvantage. "Its sales staff will have the opportunity to sell both new Scientific-Atlanta and Motorola broadband and transmission products along with our surplus and refurbished equipment. They will complement our other subsidiaries with their knowledge of test equipment and cable. We believe there is a strong potential for Jones Broadband to substantially increase its current level of business with its ability to sell from our inventories."

The information in this announcement may include forward-looking statements. All statements, other than statements of historical facts, which address activities, events or developments that the Company expects or anticipates will or may occur in the future, are forward-looking statements. These statements are subject to risks and uncertainties which could cause actual results and developments to differ materially from these statements. A complete discussion of these risks and uncertainties is contained in the Company's reports and documents filed from time to time with the Securities and Exchange Commission.
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Aug 22, 2005
Words:307
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