C-MAC Industries Inc. Completes the Acquisition of Kavlico Corporation.Business Editors MONTREAL--(BUSINESS WIRE)--Nov. 29, 2000 C-MAC Industries Inc. (NYSE NYSE See: New York Stock Exchange :EMS)(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. .), a world leader in the design and manufacture of fully integrated electronic systems and engineering solutions, announced today that it has completed the acquisition of Kavlico Corporation. This acquisition, which was announced on October 4, 2000, has strengthened C-MAC's position in the transportation and industrial electronics markets. It is now a full service supplier to many of the leading OEMs in these sectors. Specializing in micro-electromechanical systems ("MEMS (MicroElectroMechanical Systems) Tiny mechanical devices that are built onto semiconductor chips and are measured in micrometers. In the research labs since the 1980s, MEMS devices began to materialize as commercial products in the mid-1990s. "), as well as ceramic capacitive, silicon piezoresistive ("PRT PRT Print PRT Port PRT Portugal (ISO country code) PRT Printer PRT Provincial Reconstruction Team (Iraq) PRT Personal Rapid Transit PRT Personal Rapid Transit ") and electromechanical technologies, Kavlico has used its broad array of capabilities to establish itself as a leading technology driven manufacturer of precision measurement and control devices and systems. "We are adding the world's largest independent supplier of precision sensors to our existing electronics and electro-mechanical product portfolio. This gives C-MAC a unique advantage in EMS for the next wave of outsourcing in the automotive and industrial markets," said Dennis Wood, Chairman and Chief Executive Officer of C-MAC. He added, "We are now the only EMS company offering the transportation electronics market a full range of technologies and design expertise. Given the convergence of technologies, acquiring Kavlico also marks a natural extension of our communications business. The depth and strength of the Kavlico management team coupled with the design capabilities of its 225 engineers should propel C-MAC to even stronger growth in the future." Michael Gibson, President of Kavlico, added, "Kavlico's association with C-MAC has poised the Company for rapid and steady growth with a broad array of products and services, complementary and innovative technologies, and the skill and enthusiasm of over 8,000 employees." He added, "We are well positioned globally to forward integrate our sub-systems to increase the penetration of our Tier 1 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 customers." 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 9,200 employees and operates 49 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 by 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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