|[February 03, 2014]
LGL Announces Purchase of Filter Product Line by MtronPTI
ORLANDO, Fla. --(Business Wire)--
The LGL Group, Inc. (NYSE MKT: LGL) (the "Company") today announced that
its primary operating subsidiary, MtronPTI, leader in precision
frequency control and customer RF/microwave filters, has acquired
certain filter product line assets from Trilithic, Inc. ("Trilithic").
The acquired assets include intellectual property and equipment for
Trilithic's fixed and tunable frequency filter products used in
cellular, military and other wireless applications. This investment is
expected to further strengthen and differentiate MtronPTI's high
reliability RF & microwave portfolio, providing increased service to
aerospace, defense and Internet communication technology clients.
Greg Anderson, LGL's President and Chief Executive Officer, said:
"Through this investment, we strengthen our blue-chip client base by
expanding our existing filter line, adding additional higher frequency
technologies and a fast-turn custom filter capability. Step-by-step
we're enhancing our portfolio of products with longer life cycles and
Michael Ferrantino, LGL's Vice Chairman, said, "Coupled with the
recently announced right-sizing, this acquisition provides opportunities
to increase profitability and drive shareholder value."
Trilithic is a privately-hld manufacturer founded in 1986 to engineer
and assemble custom products for telecommunications, military and
industrial clients. Today, Trilithic provides a broad product base of
over 1,500 measurement products and communications components to
thousands of clients around the world.
About The LGL Group, Inc.
The LGL Group, Inc., through its wholly-owned subsidiary MtronPTI,
manufactures and markets highly-engineered electronic components used to
control the frequency or timing of signals in electronic circuits. These
components provide low noise and base accuracy for lab instruments,
ensure reliability and security in aerospace and defense communications,
and synchronize data transfers throughout the wireless and Internet
Headquartered in Orlando, Florida, the Company has additional design and
manufacturing facilities in Yankton, South Dakota and Noida, India, with
local sales offices in California, Europe, Hong Kong and Shanghai.
For more information on the Company and its products and services,
contact LaDuane Clifton at The LGL Group, Inc., 2525 Shader Rd.,
Orlando, Florida 32804, (407) 298-2000, or visit www.lglgroup.com
Caution Concerning Forward Looking Statements
This document includes certain "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995 and is
subject to risks, uncertainties and other factors. The Company's actual
performance may differ materially from such expectations as a result of
important risk factors, which include, those identified in the Company's
Form 10-K for the ended December 31, 2012 and its other filings with the
U.S. Securities and Exchange Commission. These risks and uncertainties
could cause actual results to differ materially from those referred to
in these forward-looking statements. The Company does not undertake an
obligation to update or revise any forward-looking statements.
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