Insilco Holding Co. To Acquire Montreal-Based Cable Assembly Manufacturer
14 February 2000
Insilco Holding Co. To Acquire Montreal-Based Cable Assembly Manufacturer
COLUMBUS, Ohio, Feb. 11 -- Insilco Holding Co.
(OTC Bulletin Board: INSL) announced today that it has signed an agreement to
purchase privately-owned T.A.T. Technology ("TAT"), a Montreal-based provider
of cable and wire assemblies to Original Equipment Manufacturers serving the
rapidly growing Optical Networking and Dense-Wavelength Division Multiplexing
("DWDM") segments of the telecommunications industry. TAT had 1999 revenues of
approximately $58 million. The transaction is expected to close later this
month. Financial terms of the transaction were not disclosed.
David A. Kauer, Insilco President and CEO, said, "This acquisition
represents an excellent strategic fit with our existing cable and wire
assembly business. TAT and Insilco serve the same market-leading
telecommunications customer and our combined facilities will give us close
proximity, on a worldwide basis, to the fastest growing sites of major
telecommunication equipment providers and contract manufacturers, which
creates a true global supplier relationship and strengthens our long-term
commitment."
Kauer concluded, "We expect TAT to be immediately accretive and foresee
numerous opportunities to create incremental value. Our expanded global
presence and product offering affords us significant cross-selling
opportunities and makes us a significant customer to component suppliers. The
combination of these two companies will also strengthen our competitive
position as companies continue to outsource and rationalize their vendor base
in favor of larger, global suppliers."
The statements made in this press release that are not historical facts
are forward looking statements, including statements with respect the
Company's ability to complete acquisitions, and as such, are subject to
certain risks and uncertainties. It is important to note that results could
differ materially from those projected in such forward-looking statements.
Factors which could cause results to differ materially include, but are not
limited to: the inability to obtain bank approval for the acquisitions and/or
the inability to successfully complete the acquisition, changes in demand from
major customers, changes in demand for the Company's products, changes in
market trends, general competitive pressures from existing and new
competitors, adverse changes in operating performance, and adverse economic
conditions. Further information concerning factors that could cause actual
results to differ materially from those in the forward-looking statements are
contained from time to time in the Company's SEC filings, including but not
limited to the Company's report on Form 10-K for the year ended December 31,
1998 and reports on 10-Q for the quarters ended March 31, June 30 and
September 30, 1999. Copies of these filings may be obtained by contacting the
Company or the SEC.
Insilco Holding Co., based in suburban Columbus, Ohio, is a diversified
manufacturer of industrial components. The Company's business units serve the
telecommunications, electronics, automotive and other industrial markets. It
had revenues in 1999 of $580 million.
Investor Relations Contact: Michael Elia, 614-792-0468 or write to
Insilco Holding Co., Investor Relations, 425 Metro Place North, Box 7196,
Dublin, OH 43017 or call Melodye Demastus, Melrose Consulting 614-771-0860.
You may also visit our web site at
http://www.investor-access.com/insilco.html .