FOR IMMEDIATE RELEASE
Micronetics Purchases Enon Facility
Richard Kalin, President, stated "We acquired Enon Microwave about one year ago. The integration of Enon with Micronetics has been very successful. We have been able to continue to deliver excellent products and have been fortunate to keep virtually all our people in place. In addition, we have substantially increased backlog. This is largely due to Enon's reputation as the premier manufacturer of high power microwave devices and the continued investment in high power testing capability. Very few companies have the ability to test these high power devices with the degree of expertise of Enon. The purchase of this facility was done to reinforce Micronetics' commitment to continued investment in this operation."
Mr. Kalin continued, "The ultimate goal of acquiring this facility was to assure our people at Enon and customers of Enon that Micronetics/Enon is in Topsfield to stay. We believe this gives us the ability to offer our people an increased sense of security and our customers the best level of capability, service and reliability."
Final purchase of the facility was completed on March 27, 2003.
Micronetics, operating through its Defense Electronics Group, designs and manufactures microwave and radio frequency (RF) components and integrated subassemblies used in a variety of defense, aerospace and commercial applications. Operating through its Test Solutions and VCO Products Groups, Micronetics designs and manufactures test equipment and components that are utilized in, or test the strength, durability and integrity of communication signals in, military or communications equipment or systems. Micronetics serves a diverse customer base, including Aerosat, Alcatel, BAE Systems, Boeing, EADS, Ericsson, Honeywell, L-3 Communications, Lockheed Martin, Motorola, NEC, Northrop Grumman, Raytheon, Southwest Research, Teradyne, Tektronix and Thales. Micronetics also operates through its wholly-owned subsidiaries, Enon Microwave, Inc., Microwave Concepts, Inc. and Microwave & Video Systems, Inc.
Some of the statements contained in this news release are forward-looking statements. The accuracy of these statements cannot be guaranteed as they are subject to a variety of risks, including but not limited to the success of the products into which the Company's products are integrated, internal projections as to the demand for certain types of equipment, competitive products and pricing, the success of new product development efforts, the timely release for production and the delivery of products under existing contracts, access to financial resources, future economic conditions generally, as well as other factors. The information in this release should be reviewed in conjunction with Micronetics' Annual Report on Form 10KSB/A for its fiscal year ended March 31, 2002.
Contact |
home | about us | contact us | investor info | more press releases | articles | careers