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Sipex sells hybrid business to SatCon

Posted: 04 Oct 2002 ?? ?Print Version ?Bookmark and Share

Keywords:Thin Film and Hybrid Assembly?

Sipex Corp., a manufacturer of power and energy management products for digital power markets, has sold its assets related to its Thin Film and Hybrid Assembly business to SatCon Electronics Inc., a division of SatCon Technology Corp. The sale is related to the company's plan to exit the assembled products business.

The sale included equipment and inventory used in the conduct of its Hybrid business. SatCon is expected to continue to service the existing customers of Sipex's Hybrid business. Payment for the assets purchased by SatCon are deferred for up to 3 years and will be made out of proceeds from future sales of equipment and inventory included in the sale.

The two companies will work closely together to ensure a smooth transition and transfer of designs and manufacturing processes to SatCon.

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