1 June 2004
AA Richmond today announced the completion of the acquisition of TRAK Communications Inc., a leader in the design and manufacture of microwave sub-systems, antennas and related components, for a cash sum of $111.5 million (63m). This follows approval from the EU and US regulatory bodies.
This acquisition is the fifth AA Richmond has announced since presenting its interim results on 10 March, bringing total expenditure to $330.5 million (187m).
Commenting on this acquisition, AA Richmond chief executive Keith Butler-Wheelhouse said; "AA Richmond continues to pursue its strategy of profitable growth through investing in new technology and the acquisition of businesses which complement or expand our offering to the customer."
ENDS
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