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TRITON ELECTRONIK ACQUIRES POSITRON TECHNOLOGIES AND CREATES A CANADIAN ELECTRONICS MANUFACTURER LEADER
December 2007 MONTREAL - Electronic Contract Design and Manufacturing (CDM) service provider Triton Electronik, of Pointe-Claire, Quebec announced today that it has signed a definitive agreement to acquire Positron Technologies, consolidating its place among mid-size CDM providers in Eastern North America. "In a context of increased Asian competition and a rising Canadian dollar, the Positron acquisition marks the emergence of a stronger Canadian player with the critical mass required to become the leading mid-size CDM provider in Eastern North America within the next three years," declared Daniel Blanche, president and CEO of Triton Electronik. "Combining Positron with Triton Electronik creates a powerful platform for growth that will benefit both customers and employees."
Positron Technologies is based in Kirkland, Quebec, where it currently employs 250 employees, generating annual revenues of $60 million. All Positron employees will be offered employment and the combined company will have over 700 employees, annual revenues in excess of $140 million and floor space capacity of more than 250,000 sq ft. Positron will complement Triton's existing core activities of providing high-mix printed circuit board and box build assembly to industrial, telecommunications, transport, medical, security and entertainment sectors. It will also reinforce the Company's offering of complimentary services ranging from design to prototyping, inventory management, assembly, testing, distribution and after-sales support and repairs. There are currently 50 CDM providers in the world with revenues of $100 to $500 million, and over 2000 with revenues of less than $100 million. This leaves mid-size customers, with orders around $10 million, having to choose between suppliers that are either too big or too small for their needs. "We believe that the CDM market is ripe for consolidation, and our strategy is to position Triton to take full advantage of this opportunity through organic growth and acquisitions like this one," says Mr. Blanche. Triton's vertical markets in Eastern North America are estimated at over $US 6 billion and growing at almost double the annual growth rate of the overall CDM North American market. Genuity Capital Markets served as financial adviser to Triton.
About Triton Electronik inc. Triton Electronik is a fast-growing Electronic Contract Design and Manufacturing (CDM) service provider specialized in high-mix printed circuit board assembly to full box build for the aerospace, industrial, telecommunications, transport, medical, security and entertainment sectors. Triton offers a full range of complimentary services from design to prototyping, inventory management, assembly, testing, distribution and after-sales support and repairs. Founded in 1985, Triton now has approximately 700 employees in four manufacturing facilities located in the Montreal (Quebec) and Kitchener (Ontario) regions. |
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