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.
Nano Labs Shareholder Update March 8th, 2014
FEI Company Announces Date for Investor Conference Participation March 3rd, 2014
Industrial Nanotech, Inc. Completes On Site Visit by PCAOB Audit Firm - Nears Completion of Audit in Preparation for Move to a Senior Stock Exchange in Late 2014 February 27th, 2014
Harris & Harris Group Announces the Consulting Engagement of Peter J. Boni as a Senior Advisor February 26th, 2014
AXT Exhibiting at SPIE Micro and Nanomaterials Conference December 11th, 2013
Leti Announces MEMS Research Collaboration with OMRON November 28th, 2013
Columbia engineers make world's smallest FM radio transmitter: Team demonstrates new application of graphene using positive feedback November 18th, 2013
Revisiting quantum effects in MEMS: New calculations shows that the influence of quantum effects on the operating conditions of nanodevices has, until now, been overestimated November 15th, 2013
Carbon Nanotubes Market by Type (SWCNTS & MWCNTS), Application (Electronics, Chemicals, Energy, Medical, Composites, Aerospace & more) & Geography - Global Trends & Forecasts To 2018 March 9th, 2014
Toxicity of Commonly-Used Nanoparticles on Human Body Studied in Iran March 9th, 2014
Aptasensors Help Detection of Cancer Protein Marker March 9th, 2014
Nano Labs Shareholder Update March 8th, 2014
Google Glass could help stop emerging public health threats around the world February 27th, 2014
Caps not the culprit in nanotube chirality: Rice University study narrows the possibilities for gaining control of nanotube type February 17th, 2014
Rice's carbon nanotube fibers outperform copper: Tests show bundles beat traditional cables for transmitting electricity February 14th, 2014
Clever NIST/JPL technology decodes more information from single photons February 12th, 2014
Harry Potter-style invisibility cloaks: A real possibility next Christmas? Forget socks and shaving foam, the big kids of tomorrow want an invisible cloak for Christmas December 19th, 2013
Chicago Awareness Organization First Not-for-Profit to Sponsor Dog Training to Detect Ovarian Cancer Odorants December 12th, 2013
ZEISS Microscopes used to create images for Art Exhibit at Midway Airport: Art of Science: Images from the Institute for Genomic Biology October 25th, 2013
New potential for touch screens found at your fingertips September 17th, 2013
Harris & Harris Group Notes Molecular Imprints' Semiconductor Business To Be Acquired By Canon February 14th, 2014
FEI Buys Digital Rock Solutions Provider and microCT Product: Lithiconís Solutions Will Expand FEIís Oil & Gas Industry Offerings February 5th, 2014
World Mobile Holdings, Inc. Completes Order for Signage Media Player System and Announces the Merger Plan January 9th, 2014
Agilent Technologies Reveals Name of Electronic Measurement Spin-Off Company: Keysight Technologies Reflects Ability to Unlock Measurement Insights for Engineers January 8th, 2014