SLI News SL Industries, Inc. Completes Acquisition of MTE Corporation
MT. LAUREL, N.J.--(BUSINESS WIRE)--SL INDUSTRIES, INC. (AMEX & PHLX:SLI) today announced that it has
successfully completed the acquisition of MTE Corporation, an
electromagnetic products manufacturer, for total cash consideration of
approximately $15.5 million. SL Industries said the purchase price would
be financed under its Revolving Credit Agreement with Bank of America,
N.A. James C. Taylor, SL Industries’ Chief
Executive Officer, stated “We are very excited
about this acquisition and believe it will significantly broaden the
product portfolio of the SL Power Electronics Group in the high power
market.”
ABOUT SL INDUSTRIES
SL Industries, Inc. designs, manufactures and markets power electronics,
power motion, power protection, teleprotection and communications
equipment and systems that is used in a variety of medical, aerospace,
computer, datacom, industrial, telecom, transportation and electric
power utility equipment applications. For more information about SL
Industries, Inc. and its products, please visit SL Industries’
web site at WWW.SLINDUSTRIES.COM.
ABOUT MTE CORPORATION
MTE Corporation designs and manufactures power quality electromagnetic
products used to protect equipment from power surges, bring harmonics
into compliance and improve the efficiency of variable speed motor
drives. MTE’s product lines include:
three-phase AC reactors, DC link chokes and a series of harmonic,
RFI/EMI and motor protection filters. These products are typically used
in industrial plants and commercial buildings where non-linear loads and
attendant harmonics produced by these loads are present.
