Automodular Signs Definitive Agreement for U.S. Acquisition
WHITBY - January 10, 2003
Automodular Corporation ("Automodular") has signed a definitive agreement to acquire Tec-Mar Distribution Services Inc. ("Tec-Mar"), a supplier of sequencing and sub-assembly services based in Michigan. The acquisition is scheduled to close January 31, 2003.
Tec-Mar is profitable, with annual sales of approximately U.S. $40 million. The acquisition will make a material contribution to Automodular's 2003 net income.
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