Electronics Production | April 02, 2008
TT Electronics buys New Chapel Electronics
UK based TT Electronics has acquired UK based New Chapel Electronics for 5.2 million pounds in cash.
New Chapel Electronics is a designer and maker of interconnection systems for the aerospace markets. TT Electronics will pay 4.2 million pounds in cash, subject to agreement of completion accounts. TT Electronics said that a maximum of 1.0 million pounds payable will be on Feb. 28, 2009, based on the achievement of certain performance criteria, Thomson Financial reports.