Printer Friendly
The Free Library
22,728,043 articles and books

Litton Expands Connector Business by Acquiring TEC Electrical Components Group Ltd.



WOODLAND HILLS, Calif.--(BUSINESS WIRE)--Oct. 14, 1999--

Litton Industries Named after inventor Charles Litton Sr., Litton Industries was a large defense contractor in the United States, bought by the Northrop Grumman Corporation in 2001.  Inc. (NYSE NYSE

See: New York Stock Exchange
:LIT) Thursday announced the completion of the purchase of all of the outstanding stock of TEC Electrical Components Group Ltd. of Middlesex, England.

With approximately 110 employees, TEC Electrical Components reported annual revenues of approximately $8.6 million in its fiscal year ended March 31, 1999.

Founded 43 years ago by THORN-EMI, TEC Electrical Components is a long-established manufacturer and supplier of electrical connectors to the military, aerospace and commercial industries. TEC's business lines also include illuminated il·lu·mi·nate  
v. il·lu·mi·nat·ed, il·lu·mi·nat·ing, il·lu·mi·nates

v.tr.
1. To provide or brighten with light.

2. To decorate or hang with lights.

3.
 panels, components, Austinlite switches and materials.

TEC is a qualified manufacturer of the MIL-C-38999 series I, II and III military-qualified, multipin, cylindrical cyl·in·dri·cal
adj.
Of, relating to, or having the shape of a cylinder, especially of a circular cylinder.
 connectors. TEC's customer base includes the military of the United Kingdom, and the British aerospace/defense companies of British Aerospace British Aerospace (BAe) was a UK aircraft and defence systems manufacturer, now part of BAE Systems. History
The company was formed as a statutory corporation on April 29, 1977 as a result the Aircraft and Shipbuilding Industries Act.
, GEC-Marconi and Racal.

TEC Electrical Components will be part of Litton's Electronic Components & Materials Group.

"The acquisition of TEC Electrical Components provides an excellent complement to Litton's current position as a leader in the manufacture of cylindrical connectors for military and commercial applications," said Michael R. Brown, Litton chairman, president and chief executive officer. "TEC's synergy with Litton's VEAM operations allows excellent upside potential Upside potential

The amount by which analysts or investors expect the price of a security may increase.


upside potential

The potential price or gain that may be expected in a security or in a security average, generally stated as the dollar
 and added business opportunities in a growth-oriented, high-tech customer base."

Litton's VEAM connector operations, located in Milan, Italy; Stuttgart, Germany; Glenrothes, Scotland; and Watertown, Conn., design and produce multipin, cylindrical connectors for military, public transport, robotics robotics, science and technology of general purpose, programmable machine systems. Contrary to the popular fiction image of robots as ambulatory machines of human appearance capable of performing almost any task, most robotic systems are anchored to fixed positions , professional electronics, industrial equipment and nuclear power generation.

Litton is a leader in worldwide technology markets for advanced electronic, defense and information systems; and designs, builds and overhauls surface ships for military and commercial customers.
COPYRIGHT 1999 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Oct 14, 1999
Words:266
Previous Article:Construction Sector Continues to Run at Full Speed; Order books predicted to fall off but prices expected to remain firm.
Next Article:ORCONET.com Initiates Aggressive Plan to Expand Its Reseller Program and Accelerate Sales; ORCONET.com Partners With Leading Channel Sales Outsource...
Topics:



Related Articles
Litton's Kester Solder Division Celebrates 100 Years of Growth.
Litton Announces Management Changes in Its Information Systems Group.
In Brief.
IN BRIEF.
IN BRIEF.
IN BRIEF.
LITTON STOCK UP ON REPORT OF TAKEOVER; GENERAL DYNAMICS MAY BE EYEING FIRM.
ITT Industries, Cannon to acquire VEAM/TEC.

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters