Aeroflex Announces the Sale of Aeroflex Test Equipment Services
PLAINVIEW, N.Y.--(BUSINESS WIRE)-- Aeroflex Holding Corp. ("Aeroflex") (NYS: ARX) , a leading global provider of high performance microelectronic components, and test and measurement equipment, today announced the sale of its Aeroflex Test Equipment Services ("ATES") business to Trescal Limited for approximately $18.7 million. ATES provides calibration and repair services of non-Aeroflex test and measurement equipment in the United Kingdom.
ATES was a subsidiary of Aeroflex Limited, a provider of test and measurement equipment to the wireless communications industry. The sale of ATES will allow Aeroflex Limited to enhance its focus on building its core wireless test and measurement equipment business.
Aeroflex Holding Corp. is a leading global provider of high performance microelectronic components, and test and measurement equipment used by companies in the space, avionics, defense, commercial wireless communications, medical and other markets.
Trescal, international specialist in calibration provides a broad range of services for the test and measuring equipment market. Trescal is represented in 16 countries: Austria, Belgium, Czech Republic, Denmark, France, Germany, Italy, Romania, Singapore, Spain, Sweden, Switzerland, the Netherlands, United Kingdom, United States and Tunisia. Supplementing the standard technical services (verification, calibration and repair of T&M instruments), Trescal offers its expertise for the implementation and acquisition of measurement systems, customized equipment pool management software solutions, metrology and technical support, and training.
Trescal operates in 62 calibration laboratories and employs over 1,500 people across the world. Trescal services 25,000 customers in various sectors such as Defense, Aerospace, Aeronautics, Automotive, Power Generation & Utilities, Electronics Manufacturing, Communications and Medical & Chemistry. In 2012, Trescal pro forma sales reached €157 million.
All statements other than statements of historical fact included in this press release regarding Aeroflex's business strategy, financial results and plans and objectives of its management for future operations are forward-looking statements. When used in this press release, words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to Aeroflex or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of Aeroflex's management, as well as assumptions made by and information currently available to its management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to, adverse developments in the global economy; changes in government spending; dependence on growth in customers' businesses; the ability to remain competitive in the markets Aeroflex serves; the inability to continue to develop, manufacture and market innovative, customized products and services that meet customer requirements for performance and reliability; the failure of suppliers to provide raw materials and/or properly functioning component parts; the inability to meet covenants contained in debt agreements; the termination of key contracts, including technology license agreements, or loss of key customers; the inability to protect intellectual property; the failure to comply with regulations such as International Traffic in Arms Regulations and any changes in regulations; the failure to realize anticipated benefits from completed acquisitions, divestitures or restructurings, or the possibility that such acquisitions, divestitures or restructurings could adversely affect Aeroflex; the loss of key employees; exposure to foreign currency exchange rate risks; and terrorist acts or acts of war. Such statements reflect the current views of management with respect to the future and are subject to these and other risks, uncertainties and assumptions. Aeroflex does not undertake any obligation to update such forward-looking statements. Any projections in this release are based on limited information currently available to Aeroflex, which is subject to change. Although any such projections and the factors influencing them will likely change, Aeroflex will not necessarily update the information, since Aeroflex will only provide guidance at certain points during the year.
Aeroflex Holding Corp.
Andrew Kaminsky, 516-752-6401
KEYWORDS: United States North America New York
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