11 June 1998: US-based Selas Corporation of America announced that it has acquired IMB Electronic Products Inc. (IMB) of California, a manufacturer of film capacitors, energy storage devices used prim…
11 June 1998: US-based Selas Corporation of America announced that it has acquired IMB Electronic Products Inc. (IMB) of California, a manufacturer of film capacitors, energy storage devices used primarily to resist changes in voltage, for US$ 1.3 million in cash. IMB will report through Selas subsidiary RTI Electronics. Stephen F. Ryan, President and Chief Executive Officer of Selas, said that IMB“s capacitors represent a product line addition for RTI Electronics, producer of thermistors, thermistor assemblies and surge protectors primarily for the power and computer industries. He said that IMB gives RTI Electronics the ability to offer more products to its existing client base plus an entree into new markets. “Adding IMB to our precision electronics business segment is another step in management“s plan to grow Selas both internally and through selective acquisitions,” Mr. Ryan said. “The film capacitor market in the US is estimated at more than US$ 200 million with no company having more than 10 percent of that market. Adding IMB to RTI Electronics“ marketing organization gives us an excellent opportunity to significantly increase RTI Electronics“ revenues.” IMB“s primary markets are in the telecommunications and audio industries.