Optek Technology Inc of McKinney, Texas, is to acquire the Optoelectronics Division of TRW Inc, of Cleveland, Ohio for $32.6m subject to adjustment to reflect operations through closing: the primary facilities to be acquired are in Carrollton and Mineral Wells, Texas, and in Juarez, Mexico; Optek had sales of $14.3m last year, a 25.7% increase from its prior year, and TRW Optoelectronics was estimated to have done $46m during the same period, so that Optek reckons it will emerge as a leader in the optoelectronics industry as a result of making the acquisition.
OPTEK TECHNOLOGY TO ACQUIRE THE OPTOELECTRONICS DIVISION OF TRW
