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BUSINESS
August 27, 1999 | Dow Jones
A Michigan electronics firm said Thursday that it completed its acquisition of Tustin electronics parts maker Smartflex Inc. for about $68 million in cash. Smartflex becomes a subsidiary of closely held Saturn Electronics & Engineering Inc. of Auburn Hills, which provides electronic and electromechanical systems. Saturn paid $10.50 a share, more than double the price of Smartflex shares the day before the deal was announced early last month. Saturn received 6.
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BUSINESS
August 27, 1999 | Dow Jones
A Michigan electronics firm said Thursday that it completed its acquisition of Tustin electronics parts maker Smartflex Inc. for about $68 million in cash. Smartflex becomes a subsidiary of closely held Saturn Electronics & Engineering Inc. of Auburn Hills, which provides electronic and electromechanical systems. Saturn paid $10.50 a share, more than double the price of Smartflex shares the day before the deal was announced early last month. Saturn received 6.
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BUSINESS
July 8, 1999 | Bloomberg News
Smartflex Systems Inc. of Tustin, an electronics parts maker, said it has agreed to be bought for about $67.9 million by closely held Saturn Electronics & Engineering Inc. of Auburn Hills, Mich. Saturn makes electronic systems and parts for the automotive, defense and other industries. Saturn will pay $10.50 for each of Smartflex's 6.4 million shares outstanding, more than double Tuesday's closing price of $5.03. Smartflex stock rose $4.53 to close at $9.56 on Nasdaq.
BUSINESS
July 8, 1999 | Bloomberg News
Smartflex Systems Inc. of Tustin, an electronics parts maker, said it has agreed to be bought for about $67.9 million by closely held Saturn Electronics & Engineering Inc. of Auburn Hills, Mich. Saturn makes electronic systems and parts for the automotive, defense and other industries. Saturn will pay $10.50 for each of Smartflex's 6.4 million shares outstanding, more than double Tuesday's closing price of $5.03. Smartflex stock rose $4.53 to close at $9.56 on Nasdaq.
BUSINESS
July 22, 1999
Smartflex Systems Inc.: The Tustin provider of automated electronics manufacturing services incurred a net loss of $546,000, or 8 cents a share, for the second quarter, contrasted with net income of $387,000, or 6 cents a share, a year ago. Revenue was up 12% to $30.3 million from $27 million. Earlier this month, Smartflex entered into an agreement to be acquired by Saturn Electronics and Engineering Inc.
BUSINESS
July 8, 1999 | From Bloomberg News
Smartflex Systems Inc., an electronic parts maker, said Wednesday it agreed to be bought for about $67.9 million in cash by closely held Saturn Electronics & Engineering Inc., which makes electronic systems for the automotive, defense and other industries. Auburn Hills, Mich.-based Saturn, which sells electronic parts to the top U.S. auto makers, agreed to pay $10.50 for each of Smartflex's 6.4 million shares outstanding, more than double the stock's price the day before the deal was announced.
CALIFORNIA | LOCAL
January 25, 2000 | MICHAEL P. LUCAS, TIMES STAFF WRITER
Poke around in your car's engine and you'll probably find such things as oxygen sensors and catalytic converters that reduce smog-producing exhaust emissions. One day you also may find a Corona Discharge Device made by Litex Inc. Litex executives, including Chairman Lodwrick M. Cook, the former Arco chief executive, hope their sparkplug-like contraption will someday be ubiquitous--the ultimate jackpot for a car part in the worldwide automotive market of 400 million vehicles.
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