Aeroflex Divests Test Equipment Business
(FinancialWire via COMTEX) --
September 15, 2013 (FinancialWire) -- Microelectronic products manufacturer Aeroflex Holding Corp. (NYSE: ARX) recently announced the sale of its Aeroflex Test Equipment Services ("ATES") business to Trescal Limited for approximately $18.7 million.
ATES provides calibration and repair services of non-Aeroflex test and measurement equipment in the United Kingdom. ATES was a subsidiary of Aeroflex Limited, a provider of test and measurement equipment to the wireless communications industry.
The sale of ATES will allow Aeroflex Limited to enhance its focus on building its core wireless test and measurement equipment business, according to the company.
Trescal is described as an international specialist in calibration provides a broad range of services for the test and measuring equipment market, and is represented in 16 countries. Supplementing the standard technical services, Trescal offers its expertise for the implementation and acquisition of measurement systems, customized equipment pool management software solutions, metrology and technical support, and training. The company reportedly operates in 62 calibration laboratories, employs over 1,500 people across the world, and services 25,000 customers in various sectors such as defense, aerospace, aeronautics, automotive, power generation & utilities, electronics manufacturing, communications and medical & chemistry.
In 2012, Trescal pro forma sales reportedly reached EUR157 million.
Aeroflex Holding (approx. market cap. US$ 603.1 mil.) engages in the design, engineering, manufacture and sale of microelectronic products, as well as test and measurement equipment in the United States, Europe, the Middle East, Asia and Australia. The company was founded in 1937 and is headquartered in Plainview, New York. Aeroflex employs approximately 2,700 people.
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