Elk Grove Village, IL--May 22, 1997--Circuit Systems Inc. (Elk Grove Village, IL) announced that it has entered into serious negotiations to purchase the PCB manufacturing operation of Philips Consumer Electronics Co., a division of North America Philips. The purchase will consist of all of the equipment, inventory, and 93,360-square-foot plant and land located in Greeneville, TN. The proposed agreement requires Philips Consumer Electronics Co. to purchase all of Philips' PCB requirements for production of their television sets in North America from Circuit Systems.
D.S. Patel, President and CEO of Circuit Systems, said, "We are excited about the potential acquisition of the Philips' operation and the many opportunities we believe this acquisition will provide Circuit Systems. The operation currently is running high-volume, single-sided PCBs in a state- of-the-art facility. To the best of my knowledge, this operation is the only PCB fabrication facility in North America that has been certified under ISO 14001 and ISO 9002 standards."
Mitchell Czosnyka or Dilip S. Vyas
Circuit Systems Inc.
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