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Reliance Comm Tec

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BUSINESS
January 31, 1995
Rockwell International Corp. said Monday that it has completed its $1.6-billion cash acquisition of Reliance Electric Co. and now will try to sell the Cleveland company's telecommunications business. Rockwell, based in Seal Beach, acquired all of Reliance's shares outstanding on Friday. However, it had taken control in early December by acquiring a majority of the stock in a hostile bid for the manufacturer of industrial automation equipment and telecommunications products.
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BUSINESS
August 2, 1995
Rockwell International Corp. said it completed the sale of Reliance Comm/Tec to a unit of Kohlberg Kravis Roberts & Co. for $475 million. The sale, announced in June, involved a unit of the electrical equipment giant Reliance Electric Co. that Rockwell had acquired last year. Comm/Tec will become an independent telecommunications firm operated by KKR's K-Tec affiliate.
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BUSINESS
August 2, 1995
Rockwell International Corp. said it completed the sale of Reliance Comm/Tec to a unit of Kohlberg Kravis Roberts & Co. for $475 million. The sale, announced in June, involved a unit of the electrical equipment giant Reliance Electric Co. that Rockwell had acquired last year. Comm/Tec will become an independent telecommunications firm operated by KKR's K-Tec affiliate.
BUSINESS
January 31, 1995
Rockwell International Corp. said Monday that it has completed its $1.6-billion cash acquisition of Reliance Electric Co. and now will try to sell the Cleveland company's telecommunications business. Rockwell, based in Seal Beach, acquired all of Reliance's shares outstanding on Friday. However, it had taken control in early December by acquiring a majority of the stock in a hostile bid for the manufacturer of industrial automation equipment and telecommunications products.
BUSINESS
August 24, 1993
MRV Communications Inc., a Chatsworth producer of electronic components, said it signed a contract valued at more than $1 million to supply fiber-optic components to a Texas company. The contract calls for MRV to supply light-emitting diodes and photo detectors to Reliance Comm/Tec of Bedford, Tex. Deliveries are expected within the next 12 months, MRV said.
BUSINESS
June 7, 1995 | Times Staff and Wire Reports
Rockwell to Sell Unit to KKR-Led Group: The company agreed to sell its Reliance Comm/Tec division for $475 million to a group led by buyout specialist Kohlberg Kravis Roberts & Co. Rockwell International Corp., based in Seal Beach, acquired the division as part of its $1.6-billion purchase of Reliance Electric Co. in January, and Rockwell had said then that it expected to divest the unit because Comm/Tec's business is not part of Rockwell's core strategy.
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