Automodular Completes Tec-Mar Acquisition
WHITBY - January 31, 2003
Automodular Corporation ("Automodular") announced today that it has completed the acquisition of Tec-Mar Distribution Services Inc. ("Tec-Mar"). The acquisition is a major step in Automodular's development as a value-added supplier of sequencing and sub-assembly services to automobile assembly plants.
The combined operations of Automodular and Tec-Mar are expected to have 2003 sales in excess of $110 million. Tec-Mar operations are profitable and should make an immediate contribution to Automodular net income.
| 
