Pacific Aerospace & Electronics, Inc. to Explore Potential Acquisition Opportunities and Financing Arrangements
WENATCHEE, Wash., Dec. 15 /PRNewswire/ -- Pacific Aerospace & Electronics, Inc. (Nasdaq: PCTH - news) announced today that it will be exploring potential acquisition opportunities, financing arrangements, and other strategic opportunities aimed at financing growth and enhancing shareholder value. The Company has engaged the investment banking firm of BancBoston Robertson Stephens as its exclusive investment banker and financial advisor to provide assistance and advice in such matters.
BancBoston Robertson Stephens is an international investment banking firm specializing in growth companies. Headquartered in San Francisco and Boston, with offices in New York and London, the firm has emerged as a major financial, global services organization. BancBoston recently assisted Pacific Aerospace with a high-yield financing transaction related to its acquisition of UK aerospace manufacturer, Aeromet International plc.
''BancBoston Robertson Stephens provided first-class assistance in our recent acquisition financing transaction, and we have expanded our relationship with them to include other strategic activities to enable continued growth in revenues and shareholder value,'' said Don Wright, President & CEO of Pacific Aerospace & Electronics.
Pacific Aerospace & Electronics, Inc. is a diversified, international manufacturing company that develops, manufactures and markets high-performance electronics and metal components and assemblies for the aerospace, defense, electronics and transportation industries. The Company's primary businesses are organized into three operational and marketing units. The Electronics Group develops, manufactures and sells a broad range of precision components, filtering devices, electronic assemblies, and explosively bonded materials designed to operate with a high degree of reliability in harsh environments such as the ocean, space and the human body. The Aerospace Group provides machined and cast aluminum and metal parts and component assemblies for commercial and military aircraft, heavy trucking and automotive uses, primarily in the United States. The Aeromet Group provides magnesium and aluminum precision cast parts and formed titanium and aluminum sheet products to the aerospace, defense and motorsport industries, primarily in Europe.
The Company's common stock trades on the Nasdaq National Market System under the symbol ''PCTH,'' and its warrants trade under the symbol ''PCTHW.''
Forward-looking statements in this release concerning trends or anticipated operating results are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward- looking statements are not guarantees of future performance and are subject to risks and uncertainties related to the Company's operations. These risks and uncertainties include, but are not limited to, competitive factors (including the possibility of increased competition or technological development, competitors, and price pressures); legal factors (such as limited protection of the Company's proprietary technology and changes in government regulation); and the Company's dependence on key personnel and significant customers.
SOURCE: Pacific Aerospace & Electronics, Inc. |
