TLST - Telesis Technology Corporation Sells Commercial Products Division to Global Technology Components, LLC
Palmetto, Florida - January 17th, 2006 Palmetto, Florida – January 17th, 2006 – Telesis Technology Corporation (OTC: TLST) today announced that it has sold its Commercial Products Division (CPD) to privately held Global Technology Components, LLC (GTC) in an all cash transaction. The details of the agreement and purchase price were not disclosed. The transaction closed January 13th, 2005 and will positively impact the corporation’s balance sheet. The sell side of the transaction was represented by The Sinclair Group of Sarasota, Florida.
"Selling this non core asset provides the corporation with a direct organic infusion of cash," said Hasit Vibhakar, President of Telesis. "Selling this division will allow us to focus on our core Aerospace & Defense business and infrastructure build out in Superior, Nebraska. This transaction provides a very positive return on our equity and investment.”
Commenting on the acquisition, Mr. Randy Kraft, President of GTC stated, "Telesis CPD is an established business division that fits well with our current business. We instantly acquire some very large global clients, existing sales, trained employees and management as part of the transaction."
Telesis Technology Corporation
About Telesis Technology Corporation Telesis Technology Corporation(TM) is a Federal Aerospace and Defense Contractor with several diversified operating divisions with locations in Superior, Nebraska and Palmetto, Florida. Company information can be obtained at telesistechnology.com
Website: telesistechnology.com
Global Technology Components, LLC
Global Technology Components, LLC provides electronic component distribution, supply chain management, and engineered technology solutions. The Company has several International Sales Locations.
Telesis Technology Corporation
Investor Relations Department
email: ir@telesistechnology.com
phone: 941-795-7441 x228
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation & Reform Act of 1995. In this press release, the words "estimate," "project," "believe," "anticipate," "int end," "expect," and similar expressions are intended to identify forward-looking statements. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, the Company's ability to obtain additional financing to implement its business strategy, the delay or failure to properly manage growth and successfully integrate acquired companies and operations, lack of geographic diversification, imposition of new regulatory requirements affecting its business, a downturn in the general economic conditions, and other risks detailed from time to time in the Company's periodic reports filed with the SEC. |
