|CTS to Buy Orion Manufacturing for $10M|
Thursday March 13, 6:29 pm ET
CTS Will Acquire Orion Manufacturing for About $10 Million in Cash
ELKHART, Ind. (AP) -- CTS Corp., which makes electronic components, on Thursday said it agreed to acquire Orion Manufacturing Inc. for about $10 million in cash.
Under terms of the deal, privately held Orion, a contract electronics manufacturer, could also receive up to $1.75 million in cash if it achieves financial targets in 2008 and 2009.
CTS expects the acquisition to help earnings after one year.
CTS said Orion will be combined with its electronics manufacturing business, based in Moorpark, Calif.