Andrew Corporation To Acquire Selected Assets of ATC Tower Services, Inc.ORLAND PARK Or·land Park A village of northeast Illinois, a residential and manufacturing suburb of Chicago. Population: 53,300. , Ill. -- - Enhances Services Offering and Channel Distribution Capabilities - 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 and equipment supplier, has entered into a definitive agreement to acquire selected assets of ATC ATC Air Traffic Control ATC Average Total Cost ATC Certified Athletic Trainer ATC At the Center (Hartford, Maine retreat center) ATC Applied Technology Council ATC All Things Considered Tower Services, Inc., a division of American Tower Corporation Formed in 1995, American Tower Corporation is a publicly held company (NYSE: AMT) that is a leading owner and operator of wireless and broadcast communications sites in North America. Today American Tower owns and operates over 30,000 sites in the United States, Mexico and Brazil. , for approximately $10 million, consisting of cash and the assumption of certain capital lease obligations. ATC Tower Services, Inc., based in Boston, MA, with annual sales exceeding $60 million, is a leading general contractor A general contractor is an organization or individual that contracts with another organization or individual (the owner) for the construction of a building, road or any other execution of work or facility. construction company for wireless communications in North America, providing site installation services to wireless operators and prime contractors. "Adding ATC's site installation expertise provides Andrew with an immediate national construction services presence and additional channel distribution opportunities for our products," said John DeSana, group president, Antenna and Cable Products, Andrew Corporation. "Wireless operators are increasingly focused on next-generation network deployment in North America. They appreciate the efficiency of working with a single vendor who can provide greater system support, including installation, distribution, logistics and a complete portfolio of products." As part of the transaction, Andrew will assume a significant portion of ATC's 24 North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. construction offices and approximately 340 employees. The acquisition should be accretive to earnings by $0.01 to $0.02 per share during the 12 months following the close of the transaction, expected in November 2004. "Combining our existing services capability with the selected assets of ATC and our prior acquisition of 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 enhances our ability to effectively address the needs of our original equipment manufacturer (OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and ) and wireless operator customers," said Ralph Faison, president and chief executive officer, Andrew Corporation. 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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