METHODE ELECTRONICS, INC. ACQUIRE MIKON LTD.
CHICAGO, April 30 /PRNewswire/ -- Methode Electronics, Inc. (NASDAQ-NMS: METHB) today announced its purchase of Mikon Ltd. of Haverhill, Suffolk, England, a manufacturer of fiber optic cable assemblies. Methode produces a wide range of electronic and electrical products which serve the computer, telecommunications, automotive, and military and aerospace industries. Methode President William J. McGinley said, "The acquisition of Mikon will enable us to increase our European penetration of the fast growing fiber optic marketplace. Mikon has solid and growing customer base and, with the help of Methode's technology and finance assistance, will be able to accelerate its entry into the telecommunications marketplace. "We are pleased that Mikon's management staff headed by A.B. Harding, Richard Durrant, and Christopher Warnes have agreed to stay on," President McGinley concluded. Managing Director Harding said, "The new company will be named Methode/Mikon Ltd. and will continue to emphasize responsive service, on-time delivery, and new fiber optic products." Terms of the transaction have not been disclosed. NOTE: Methode is listed on NASDAQ and is a major OTC company. -0- 4/30/93 /CONTACT: Eugene Lyman of E.W. Lyman Associates, 312-868-9800, for Methode; or Kevin Hayes, VP-treasurer of Methode Electronics, Inc., 708-867-9600/ (METH)
CO: Methode Electronics, Inc. ST: Illinois IN: CPR SU: TNM
WB -- NY078 -- 3345 04/30/93 15:25 EDT
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|Date:||Apr 30, 1993|
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