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Tyco sells TPCG biz to TTM

Posted: 08 Aug 2006 ?? ?Print Version ?Bookmark and Share

Keywords:Tyco International Ltd.? Tyco Printed Circuit Group? TTM Technologies Inc.? Rs.1? 049.54 crore?

Tyco International Ltd. has entered into a definitive agreement to sell its Tyco Printed Circuit Group (TPCG) business to TTM Technologies Inc. for $226 million in cash.

According to the press release, the sale of TPCG is consistent with Tyco's strategy to divest certain businesses in an effort to streamline its portfolio and reallocate resources to its core operations. This transaction will help to secure the long-term future of the TPCG business and its employees with a strong parent company that is exclusively focused on the PCB business, added Tyco.

A part of Tyco's electronics segment, TPCG is a manufacturer of high-technology PCBs for the military, aerospace and commercial markets. In 2005, the company achieved revenues of $383 million.

TTM Technologies is a supplier of PCBs to OEMs and EMS companies.

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