Andrew Corporation To Acquire Selected Assets From MTS Wireless; Enhances Product Portfolio and Cost-Effectiveness for Site Deployments.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)--March 29, 2004 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. , a global communications systems In telecommunication, a communications system is a collection of individual communications networks, transmission systems, relay stations, tributary stations, and data terminal equipment (DTE) usually capable of interconnection and interoperation to form an integrated whole. equipment supplier, has entered into a definitive agreement to acquire selected steel related assets and product lines from MTS (1) See Microsoft Transaction Server. (2) (Modular TV System) The stereo channel added to the NTSC standard, which includes the SAP audio channel for special use. 1. MTS - Message Transport System. 2. Wireless Components LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , in an all-stock transaction consisting of 1.65 million shares, or approximately $27.5 million. MTS Wireless Components, based in Waterbury, CT., is a leading North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. supplier of cable accessories and hardware that supports the implementation of wireless systems including antenna mounts, 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. bridge components and other equipment support solutions. "Adding MTS's product lines and expertise will enhance Andrew's ability to provide a complete installation equipment offering, thereby simplifying site installation and reducing total system cost for our customers," said John DeSana, group president Cable Products, Andrew Corporation. The product lines being acquired have annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenues of approximately $30 million. The acquisition is expected to close within the next 30 days and should be accretive to earnings during the 12 months following the close of the transaction. "Integrating our separate product lines will provide greater value-add for our combined customer base. Utilizing greater economies of scale should drive increased synergies between the businesses," said Pete Sandore, chief executive officer of MTS Wireless. Following the close of the transaction, Mr. Sandore will serve as a business consultant to Andrew. About Andrew Andrew Corporation (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) designs, manufactures and delivers innovative and essential equipment and solutions for the global communications infrastructure market. The company serves operators and original equipment manufacturers from facilities in 33 countries. Andrew (www.andrew.com), headquartered in Orland Park, IL, is an S&P 500 company founded in 1937. Forward Looking Statements 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 acquisitions and to realize the anticipated synergies and cost savings, 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 cost 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, the loss of one or more significant customers, 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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