CTS Corporation CTS today announced that it has entered into a
definitive agreement with Benchmark Electronics, Inc. under which
Benchmark BHE has acquired CTS' Electronics Manufacturing Solutions (EMS)
business for $75 million in cash. Included are five manufacturing
facilities located in Moorpark, CA, Londonderry, NH, Bangkok, Thailand,
Matamoros, Mexico, and San Jose, CA and approximately 1,000 employees.
The transaction sharpens CTS' focus on its Components and Sensors
business, and provides additional capital to drive growth and enhance
shareholder value.
“Since I joined CTS in January, I have been working closely with the
Board of Directors to evaluate the Company's portfolio in order to
ensure alignment with our core vision and business strategies,” said
See full press release
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in