Titan Signs Letter of Intent to Buy EMC

by Mike Buetow, Editor in Chief PC Fab

Santa Clara, CA � Titan General Holdings Inc. is buying substantially all the assets of Eastern Manufacturing Corp. Financial terms were not disclosed.

Titan PCB East Inc., a wholly-owned subsidiary, has signed a letter of intent to purchase EMC, a rigid-flex board maker based in Amesbury, MA. The deal covers intellectual property, design, and prototype capabilities.

EMC had revenues of $8.8 million in 2002, Titan said. It includes Raytheon, Lockheed, BAE, Philips Medical, Parker, Analogic, and Analog Devices among its 100 customers.

Titan chairman David Marks said in a press statement that the deal is part of a strategy to make Titan General Holdings �a dominant player in the quickturn printed circuit board and rigid-flex arenas.�

�In combination with our pending move to our new Fremont facility, Titan will be positioned to offer our customers a greatly expanded range of products and will be able to support our customers from coast to coast.�

Titan is moving into the former Tyco facility in Fremont, CA. The company said it expects more acquisitions of struggling PCB firms.

Titan is traded over the counter under the symbol TTGH.

Last August, Titan General Holdings acquired Titan EMS Inc., Delaware-based PCB manufacturer.