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Electronics Production |
Teledyne completes divestment of printed circuit technology business
Teledyne Technologies Incorporated has completed the sale of assets of its printed circuit technology business (Teledyne PCT) to FTG Circuits Inc., a California corporation and subsidiary of Firan Technology Group Corporation, for USD 9.3 million in cash.
For approximately 50 years, Teledyne PCT, based in Hudson, New Hampshire, has designed and manufactured rigid-flex printed circuit boards and assemblies used in the defense, aerospace and oil and gas industries.
Teledyne will work with FTG to facilitate the transition of the operations of Teledyne PCT to FTG’s US operations. In addition, Teledyne intends to reclassify Teledyne PCT as a discontinued operation.
For each of the last three years, Teledyne PCT has generated between USD 15.0 to USD 20.0 million of annual revenue.
