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[June 2005]
Cetek Update on First Quarter
Cetek Technologies Inc said that what dominated its first quarter 2005 activities was the acquisition of Hybrid-Tek Inc (New Jersey, USA), achieved entirely with cash reserves and thus not resulting in any dilution to shareholders.
Cetek said that the acquisition would take advantage of the various synergies that should serve to complement its own operations and, most importantly, provide a catalyst for major growth opportunities in its industry. The acquisition is expected to provide improved marketing exposure to Cetek Technologies, resulting in Cetek's ceramic being applied into more markets, both in the USA and internationally.
Differing from Cetek's thin film technology, Hybrid-Tek is a thick film ceramic manufacturer that provides 'print, fire and trim' capabilities for thick film hybrid microelectronics users.
Hybrid-Tek's services and capabilities have expanded over the years to include additional circuit engineering services along with facilities and staff for device wire bonding, surface mounting and complete package assembly and test/documentation. The facility was designed exclusively for the production of thick film microcircuits and assemblies.
Hybrid-Tek is approved as a source of supply by numerous well-known military prime contractors and subcontractors and adheres to the Mil-I-45208B military standard inspection system.
ENDS