News Column

Sparton Purchases Electronic Manufacturing Technology

July 16, 2014

Sparton Corp. reported that its wholly owned subsidiary, Sparton eMT has acquired Electronic Manufacturing Technology.

According to a release from the company, Electronic Manufacturing Technology is engaged in the contract services business of manufacturing electromechanical controls and electronic assemblies. Their customer profile includes international Fortune 1000 manufacturers of industrial excimer laser products, laser eye surgery sub-assemblies, target simulators for space and aviation systems, power modules for computerized tomography products, test systems for commercial aerospace OEMs, and toll road antennas and control boxes.

"The addition of eMT meets aspects of our growth strategy by providing Sparton's entrance into the southern California geographic market as well as further enhancing our depth and breadth of capabilities within the electromechanical value stream in the highly regulated and demanding markets we serve," stated Cary B. Wood, President and Chief Executive Officer of Sparton. "Although this acquisition primarily increases our presence in the Industrial market, it will further diversify our customer base in the Medical and MilAero markets as well."

"I am excited that eMT's legacy will continue as part of Sparton's future," commented Michael Wayne Leedom, Founder and Chief Executive Officer of eMT. "We believe eMT's growth will be accelerated with the additional support, enhanced capabilities, and global reach Sparton has to offer to our existing and future customers."

"As Sparton continues to implement its strategic growth plan, we plan to achieve our growth expectations by focusing on new business development, internal product research and development, and complementary and compatible acquisitions. We are pleased to have eMT join the Sparton family and expect it to be accretive to earnings within the first twelve months," Wood concluded.

The transaction was funded through Sparton's borrowings under the credit facility currently in place with BMO Harris Bank.

More information and complete details:

www.sparton.com

((Comments on this story may be sent to newsdesk@closeupmedia.com))


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