Del Global Technologies Corp. Completes Purchase of 80% of Villa Sistemi Medicali S.p.A. and Adds Important New Medical Lines to Product Mix.Business Editors VALHALLA, N.Y.--(BUSINESS WIRE)--April 25, 2000 Del Global Technologies Corp. (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 : DGTC), a leading independent producer of medical imaging and diagnostic systems, announced today that it has exercised a previously disclosed option to increase its ownership interest to 80% in Villa Sistemi Medicali S.p.A., of Milan, Italy, thus adding an important new European dimension to the Company's expanding activities. "This acquisition not only broadens our product line of medical imaging systems, but also provides Del Global with even more effective representation in Europe," said Leonard A. Trugman, Del's Chairman, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and President. "Our Company's consolidated revenues on an 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. basis will now be approximately $100 million, and we expect Villa, as with other Del Global acquisitions, to make a significant contribution to the Company's continued growth." Del Global announced in January the acquisition of a 19% equity stake in Villa, along with an exclusive irrevocable Unable to cancel or recall; that which is unalterable or irreversible. IRREVOCABLE. That which cannot be revoked. 2. A will may at all times be revoked by the same person who made it, he having a disposing mind; but the moment the testator is option to increase its ownership interest to 80%. Villa, with annual sales of approximately $20 million, has leading edge radiographic/fluoroscopic (R/F) technology. It manufactures a full line of R/F systems, including remote control features, as well as a line of portable imaging systems with power ratings up to 30kW, which is complementary to Del's existing line. In addition, Villa produces a comprehensive line of dental imaging systems, consisting of intraoral and panoramic pan·o·ram·a n. 1. An unbroken view of an entire surrounding area. 2. A comprehensive presentation; a survey: a panorama of American literature. 3. systems, which will bring a new imaging application to Del Global. "Besides giving Del Global a truly global presence, the acquisition of Villa opens new avenues of growth for our Company. Approximately 25% of Villa's sales are derived from the Italian market with very little except dental in the U.S." said Mr. Trugman. "This acquisition should result in further sales and earnings growth due to the synergies of our expanded product lines and cross-marketing programs," Mr. Trugman concluded. Del Global Technologies Corp. is primarily engaged in the design, manufacture and marketing of state-of-the-art, cost-effective medical imaging and diagnostic systems consisting of stationary Stationary can mean:
1. the act of holding back or checking. 2. sudden stoppage of a secretion, excretion, or normal discharge. 3. subsystems, analytical instrumentation, semiconductor capital equipment and energy exploration. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Such statements involve various risks that may cause actual results to differ materially. These risks include, but are not limited to, the ability of the Company to grow internally or by acquisition and to integrate acquired businesses, changing industry and competitive conditions, and other risks referred to in the Company's registration statements and periodic reports filled with the Securities & Exchange Commission. |
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