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Elcoteq, Benefon Agreement Closed
August 2, 2002 |Estimated reading time: Less than a minute
The two companies announced a Memorandum of Understanding on the transaction in early July. The final agreement corresponds to the Memorandum of Understanding. Accordingly Elcoteq will pay EUR 11 million for the design capacity and intellectual property rights to be transferred to Elcoteq Design Center.
Bellevue, Wash. -- Esterline Technologies plans to sell its Automation business segment, consisting of two separate companies, Excellon Automation Co. and W.A. Whitney Co., leading manufacturers of specialized equipment used in the manufacture of printed circuit boards and the fabrication of heavy plate steel, respectively.