1999–Aeroflex Incorporated (NYSE Symbol: ARX) today announced that its purchase of UTMC Microelectronic Systems, Inc. (UTMC) and an approximately $47,000,000 credit facility with Fleet Bank, N.A. and The Chase Manhattan Bank have been consummated. As a leading supplier of radiation-tolerant integrated circuits for satellite communications, UTMC’s Commercial RadHard(TM) products, services and foundry partners are expected to complement Aeroflex’ line of microelectronic module and interconnect products for the communications marketplace. The addition of UTMC to our microelectronics business segment is expected to be an important building block in our strategy to provide more content in communications platforms, primarily in the satellite communication area. Utilizing UTMC’s intellectual property, we will be able to offer our customers silicon based integrated circuits in addition to the microelectronic modules and interconnects we are presently supplying.
