GROUP TECHNOLOGIES' METRUM SUBSIDIARY SELLS PERIPHERAL PRODUCTS BUSINESS TO MOUNTAINGATE.
Under terms of the agreement, MountainGate will market and distribute the METRUM peripheral products line of archival storage products including the company's VHS tape, digital linear tape and optical disk data storage libraries. MountainGate's current product offerings include a full line of high capacity removable and transportable storage solutions.
"Although our peripheral products venture has established a successful business, we determined that focusing our corporate resources on instrumentation products would be in the best interest of the METRUM," said Dr. Avi Margalith, president of METRUM. "Instrumentation products have been METRUM's core strength for more than 40 years, and we are confident about the opportunities for building on that competitive advantage. We will be introducing several new instrumentation products this year to reinforce our leadership position in the marketplace."
METRUM, established in 1954, is the former Test Instruments Division of Honeywell (NYSE:HON). In September 1990, this business, under the METRUM corporate name, was part of a corporate spin-off of several divisions of Honeywell into the newly formed Alliant Techsystems Inc. (NYSE:ATK). METRUM was acquired by Group Technologies in December 1992.
METRUM specializes in high-performance, digital and analog recording technologies for a broad range of data acquisition applications in commercial and government markets.
METRUM instrumentation products include the B-VLDS Variable Speed Digital Recorder which can store up to 13.7 gigabytes on a single ST-160 tape cassette and is the only digital recorder on the market combining high data storage capacity, variable recording rates and low media cost. The RSR 512 Rotary Storage Recorder, which has 70 dB dynamic range and is 10 to 30 times more accurate than conventional analog recorders, is the first portable, multichannel helical scan instrumentation recorder to combine the characteristics of FM analog recording with the inherent accuracy of digital recording.
Tentative plans call for the peripheral products business unit to relocate to a Lockheed Martin facility. Some METRUM employees will be asked to join MountainGate, and others may be retained by METRUM. The exact numbers are not finalized.
Headquartered in Tampa, Florida, Group Technologies provides advanced manufacturing, engineering and testing services to manufacturers of electronic products. The Company manufactures complex circuit card assemblies and subsystems used in products serving a wide variety of markets, including avionics, gaming, medical instrumentation, personal computers, telecommunications, and military systems.
CONTACT: Group Technologies Corporation
Dr. Avi Margalith, 303/773-4700 (Denver)
or 813/972-6416 (Tampa)