C-MAC Industries Inc. Completes the Acquisition of Invotronics Mfg., a Unit of Magna International Inc.Business Editors MONTREAL--(BUSINESS WIRE)--Sept. 18, 2000 C-MAC Industries Inc.,(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CMS (1) See content management system and color management system. (2) (Conversational Monitor System) Software that provides interactive communications for IBM's VM operating system. .)(NYSE NYSE See: New York Stock Exchange :EMS) a world leader in the manufacture of fully integrated electronic systems and engineering solutions, announced today that it has completed the acquisition of Invotronics Mfg. This acquisition, which was announced on July 26, 2000, strengthens C-MAC's position in the automotive electronics market and establishes a significant relationship with Magna, one of the most diversified automotive suppliers in the world. "Invotronics expertise in the design, engineering and manufacture of electronic body controllers, electromechanical The use of electricity to run moving parts. Disk drives, printers and motors are examples. Electromechanical systems must be designed for the eventual deterioration of moving components that wear over time. The first TVs were electromechanical systems (see video/TV history). systems and intelligent switches, enhanced by C-MAC's advanced electronics design and global manufacturing capabilities, positions us to take advantage of the expansion of electronic products and increased outsourcing opportunities in the automotive sector," said Dennis Wood, Chairman and Chief Executive Officer of C-MAC. ABOUT C-MAC C-MAC is a leading internationally diversified designer and manufacturer of integrated electronic manufacturing solutions, from components to full systems, primarily serving the communications, automotive, instrumentation, defense and aerospace equipment markets worldwide. C-MAC services also include product design, supply chain management, and assembly and testing. C-MAC, headquartered in Montreal (Quebec, Canada), employs more than 7,500 employees and operates 45 manufacturing facilities located in Belgium, Canada, China, France, Germany, India, Mexico, the United Kingdom and the United States. C-MAC's manufacturing operations are supported by eight strategically located design centers in North America and Europe. C-MAC (CMS) stock is traded on The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. and on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. (EMS). For additional information, visit our web site at http://www.cmac.com Certain statements contained in this press release regarding C-MAC's future operating results or performance or business prospects and any other statements not constituting historical facts are "forward-looking statements" subject to the 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. created the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements reflect only C-MAC's current beliefs and specific assumptions with respect to future business decisions and results are based on information currently available to C-MAC. Accordingly, these statements are subject to risks, uncertainties and contingencies, which could cause C-MAC's actual operating results, performance or business prospects to differ from those expressed in, or implied by, these statements. |
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