Andrew Corp. Acquires Quasar Microwave Technology Ltd.Business Editors ORLAND PARK Or·land Park A village of northeast Illinois, a residential and manufacturing suburb of Chicago. Population: 53,300. , Ill.--(BUSINESS WIRE)--April 24, 2002 Andrew Corporation Andrew Corporation is an American multinational producer of communications devices. Andrew is a global designer, manufacturer, and supplier of communications equipment, services, and systems. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ANDW), a global supplier of communications systems equipment and services, has acquired Quasar Microwave Technology Ltd. (based in Newton Abbot You may be looking for Newton Abbot (UK Parliament constituency) , Devon, England), one of the world's leading microwave component companies. The addition of Quasar's microwave and millimeter wave components completes the Andrew RF path offering in terrestrial antenna subsystems for the Fixed-Line Telecommunications market. In FY2001, terrestrial microwave antenna subsystems accounted for $160 million of Andrew Corporation's total sales of $1.049 billion. "Quasar has demonstrated excellence in their application of microwave and millimeter wave component design for use in point-to-point radio links, LMDS (Local Multipoint Distribution Service) A digital wireless transmission system that works in the 28 GHz range in the U.S. and 24-40 GHz overseas. It requires line of sight between transmitter and receiving antenna, which can be from one to four miles apart , satellite ground station terminals, aerospace, and naval radar Noun 1. naval radar - naval equipment consisting of a shipboard radar air search radar - a shipboard radar that searches for aircraft fire control radar - naval radar that controls the delivery of fire on a military target systems," said Paul R.Cox, Group President Communication Products, Andrew Corporation. "We're excited by this expansion of our product offering to our Fixed Telecom customers. The addition of filters, diplexers, hot standby couplers and other integrated radio products is a natural extension to the Andrew line of antenna products and completes our RF path offering in this market." Dave Rodola, Director for Microwave Systems, Andrew Corporation commented, "The global availability of Andrew antenna products is a key benefit for our customers and by the end of 2002, we'll have included the full complement of these new products in our worldwide portfolio. For Fixed Telecom customers with global reach, this will bring the convenience and cost-savings of global one stop shopping." Financial details of the transaction were not disclosed. About Andrew Corporation Andrew Corporation is a global leader in the design, manufacture and supply of communications equipment, systems and services. Andrew products and services provide proven solutions for wireless, fixed-line and broadband wireless telecommunication service providers, Internet service providers Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. and broadcasters throughout the world. Founded in1937, Andrew today is a billion-dollar, global corporation with more than 5,000 employees in 29 countries. Andrew is an S&P 500 company whose common stock trades on The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. (R)under the symbol:ANDW. The company has established manufacturing facilities in Australia, Brazil, Canada, China, India, Russia, Scotland, and the United States. For further information on Andrew products and services, including the text of this release, visit our website at www.andrew.com. About Quasar With over 60 years of experience Quasar is one of the world's leading microwave technology companies. In 1989, the company acquired the expertise of Gabriel Microwave Systems and Mid Century Microwavegear to form a center of waveguide waveguide, device that controls the propagation of an electromagnetic wave so that the wave is forced to follow a path defined by the physical structure of the guide. excellence. Since then, the company has grown substantially and developed a broad product range suitable for a multitude of communications applications. Quasar has expertise in Point-to-Point radio links, LMDS, Satellite Ground Station Terminals, Aerospace and Naval Radar Systems. The company is located near Newton Abbot in the South West of England The West of England is a loose term given to the area surrounding the City and County of Bristol, England. It is increasingly used - e.g. by the West of England Partnership - as a synonym for the former Avon (county) area. . Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement Some of the statements in this news release are forward looking statements and we caution our stockholders and others that these statements involve certain risks and uncertainties. Factors that may cause actual results to differ from expected results include the company's ability to integrate this acquisition and to realize the synergies and cost savings anticipated from this transaction, the effects of competitive products and pricing, economic and political conditions that may impact customers' ability to fund purchases of our products and services, the company's ability to achieve the costs savings anticipated from cost reduction programs, fluctuations in international exchange rates, the timing of cash payments and receipts, end use demands for wireless communication services, and other business factors. Investors should also review other risks and uncertainties discussed in company documents filed with the Securities and Exchange Commission. |
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