Home > Press > API Nanotronics Closes Acquisition of National Hybrid Inc. -- Revenues Expected to Increase 100%
API Nanotronics Corp. (OTCBB: APIO) ("API") (the "Company") is pleased to announce the closing of the acquisition of National Hybrid Inc. and its subsidiary Pace Technology Inc. National Hybrid is a privately held New York-based company specializing in critical components for the US defense sector. API Nanotronics acquired 100% of the shares of National Hybrid for $9.75 million in cash at closing.
API Nanotronics Closes Acquisition of National Hybrid Inc. -- Revenues Expected to Increase 100%
TORONTO, CANADA | Posted on January 29th, 2007
Phillip DeZwirek, Chairman and CEO of API, stated, "This acquisition significantly strengthens API's product offerings and enhances our research and manufacturing capabilities as we embark on our next phase of growth in Nanotechnology. The acquisition also doubles API's revenue and further solidifies the company as a key supplier of critical electronic components to the US Department of Defense (DoD) and leading defense contractors."
National Hybrid specializes in the manufacturing of 1553 Data Bus products, Solid State Power Controllers, High Density Multi Chip Modules and custom state-of-the-art Hybrid Microcircuits. National Hybrid's customers include Raytheon, Lockheed Martin, Northrop Grumman, the Department Of Defense, and many others.
National Hybrid is in the process of completing an advanced Micro-Electro-Mechanical Systems (MEMS) production and micro-fabrication facility that will house state-of-the-art research and development capabilities in nanotechnology. Upon completion, it is anticipated that the facility will be one of the most modern MEMS micro-fabrication plants in North America.
Mr. DeZwirek further stated, "The combination with National Hybrid will allow API Nanotronics to pursue its goal of diversifying into products based on MEMS and nanotechnology. This acquisition makes API Nanotronics a one-stop shop for the most sophisticated design requirements of the leading defense contractors. Current customers have already expressed interest in working with API to develop next-generation products based on its newly acquired MEMS capabilities. We believe this acquisition puts API in a very positive position to achieve our growth objectives."
About API Nanotronics
API Nanotronics Corp. through its wholly owned subsidiaries API Electronics Inc., National Hybrid Inc., Filtran Group, TM Systems and Keytronics, is engaged in the manufacture of electronic components and systems for the defense and communications industries. With a growing list of blue chip customers, including Honeywell/Allied Signal, General Dynamics, Lockheed Martin, and numerous other top technology-based firms around the world, API regularly ships off-the-shelf and custom designed products to clients in more than 34 countries. API owns state-of-the-art manufacturing and technology centers in New York, Connecticut and Ontario, Canada and has manufacturing capabilities in China and a distribution center in Britain. API Nanotronics trades on the OTC Bulletin Board under the symbol APIO. For further information, please visit the company website at http://www.apinanotronics.com
Safe Harbor for Forward-Looking Statements:
Except for statements of historical fact, the information presented herein constitutes forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which API Nanotronics Corp. and its subsidiaries and affiliates have little or no control.
ON BEHALF OF THE BOARD
API Nanotronics Corp.
Philip DeZwirek, CEO
For more information, please click here
Bakerview Investor Relations, Inc.
Copyright © Market Wire
If you have a comment, please Contact
Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.
Arrowhead to Present at 2015 RBC Capital Markets' Global Healthcare Conference February 17th, 2015
Iran 1st among Islamic Nations in Scientific Production, Nanotechnology February 16th, 2015
Harris & Harris Group Portfolio Company D-Wave Systems Raises an Additional $29 Million (CAD), Closing 2014 Financing at $62 Million (CAD) February 2nd, 2015
Malaysian Nanotechnology Company Nanopac Innovation Ltd. lists on the NSX January 19th, 2015
MEMS/Sensors Drive IoT/E Innovation in Europe: MEMS Executive Congress Europe Speakers Explore Internet of Things/Everything in Automotive, Consumer, Industrial Markets, 9-10, March in Copenhagen February 9th, 2015
STMicroelectronics Leads European Research Project to Develop Next-Generation Optical MEMS: Extension to a project launched in 2013 builds on current efforts to enable technologies for next-generation applications February 4th, 2015
Entegris Launches Dispense System Optimized for 3D and MEMS Applications: New IntelliGen® MV system delivers process efficiencies and defect reduction in dispensing mid-viscosity fluids February 3rd, 2015
CNSE's Smart System Technology & Commercialization Center Successfully Recertifies as ISO 9001:2008 January 12th, 2015
onic Present breakthrough in CMOS-based Transceivers for mm-Wave Radar Systems March 1st, 2015
Graphene Shows Promise In Eradication Of Stem Cancer Cells March 1st, 2015
Novel Method to Determine Optical Purity of Drug Components March 1st, 2015
Scientific breakthrough in rechargeable batteries: Researchers from Singapore and Québec Team Up to Develop Next-Generation Materials to Power Electronic Devices and Electric Vehicles February 28th, 2015
Simulating superconducting materials with ultracold atoms: Rice physicists build superconductor analog, observe antiferromagnetic order February 23rd, 2015
Perfect colors, captured with one ultra-thin lens: No need for color correction -- Harvard physicists' flat optics, using nanotechnology, get it right the first time February 19th, 2015
Penn researchers develop new technique for making molybdenum disulfide: Extra control over monolayer material with advantages over graphene February 19th, 2015
New nanogel for drug delivery: Self-healing gel can be injected into the body and act as a long-term drug depot February 19th, 2015
2015 Nanonics Image Contest January 29th, 2015
OCSiAl supports NanoART Imagery Contest January 23rd, 2015
EnvisioNano: An image contest hosted by the National Nanotechnology Initiative (NNI) January 22nd, 2015
Oxford Instruments Asylum Research Announces AFM Image Contest Winners January 11th, 2015
Keysight Technologies Begins Trading as Independent Company November 3rd, 2014
PEN Inc. Chairman, Scott Rickert, Will Webcast a Live Company Update September 25, 1 PM EDT September 17th, 2014
State University of New York Trustees Unanimously Approve SUNY Polytechnic Institute (SUNY Poly) as New Name for Merged SUNY CNSE / SUNYIT September 9th, 2014
PEN Inc. Announces New Trading Symbol: PENC: Stock Continues Trading on the OTCQB September 3rd, 2014