New electronics company with headquarters in San Diego; former division of GTI now a $20 million corporation.SAN DIEGO--(BUSINESS WIRE)--Jan. 8, 1996--Component InterTechnologies Inc. (CIT n. 1. A citizen; an inhabitant of a city; a pert townsman; - used contemptuously. Which past endurance sting the tender cit. - Emerson. ) is the new name of the former component subsidiary of GTI GTI Gas Technology Institute GTI Global Taxonomy Initiative GTI Good Time Interval GTI Guelph Turfgrass Institute GTI Green Theme International GTI Gordon Training International GTI Georgia Transportation Institute GTI Group Travel Insurance Corp. Now an independent company with headquarters in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , CIT has more than 250 employees worldwide. CIT ended 1995 with sales of more than $21 million. As a division of GTI Corp. (also with headquarters in San Diego) CIT was formerly the Electronics Components Group (E-Group). The new corporation is a technology manufacturer producing components and packages for the industrial electronic and automotive industries Automotive Industries, Ltd. (Hebrew: תעשיות רכב נצרת עלית, תע"ר . Main product lines include glass and glass/metal seal components, pinned array packages, printed circuit boards and precision welded products. Component InterTechnologies' manufacturing plants in Hadley, Pa.; Hartselle, Ala ALA aminolevulinic acid. Ala alanine. ala (a´lah) pl. a´lae [L.] a winglike process. .; and Abbeyfeale, Ireland, will continue to operate as before in the newly formed company. Employment levels at each location are expected to experience modest growth in 1996. Don Moore Moore, city (1990 pop. 40,761), Cleveland co., central Okla., a suburb of Oklahoma City; inc. 1887. Its manufactures include lightning- and surge-protection equipment, packaging for foods, and auto parts. , CIT's newly named chief executive officer, was recruited as president by GTI three years ago to direct the E-Group. Moore was instrumental in finding investors who funded the newly independent Component InterTechnologies. ``The investment group responsible for the private placement of $15 million believes in and supports the long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. growth potential of CIT,'' said Moore. ``We've been consistently profitable for the past three years as we have positioned the organization to enter new technology market segments. ``Our strategic direction is to move from lower technology component manufacturing towards higher growth technology in electronic packaging markets. We've presently identified and penetrated a number of these key industry segments and are in a strong capital position to aggressively pursue these new market opportunities.'' Component InterTechnologies, with headquarters in San Diego, has manufacturing plants in Pennsylvania, Alabama and Ireland with a worldwide customer base. CONTACT: McClellan Ehrenfeld Marketing, San Diego Marlee J. Ehrenfeld, 619/233-9966 e-mail, memtkg@ix.netcom.com |
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