Spectrum Control Acquires EMF Systems, Inc. Further Expands Spectrum's Rapidly Growing Microwave Business



    FAIRVIEW, Pa., Jan. 29 /PRNewswire-FirstCall/ -- Spectrum Control, Inc.
 (Nasdaq:   SPEC), a leading designer and manufacturer of electronic control
 products and systems, announced today that Spectrum Microwave, Inc., its
 wholly owned subsidiary, has acquired substantially all of the assets and
 assumed certain liabilities of EMF Systems, Inc. ("EMF"). EMF, based in
 State College, Pennsylvania, designs and manufactures custom
 oscillator-based products, including phase locked oscillators and
 synthesizers. The total purchase price of the acquisition was approximately
 $2.3 million.
     Dick Southworth, Spectrum Control's President and Chief Executive
 Officer, commented, "With this acquisition, we continue to execute our
 strategic plan of product expansion, particularly in the area of complex
 assemblies and systems. In addition to a broad line of oscillator
 components, EMF primarily designs and manufactures integrated microwave
 assemblies ("IMA"). These sophisticated products are used in numerous
 military and commercial applications including military radar systems,
 secured communications, and commercial weather radar. The IMA product
 offerings included with this acquisition are a natural complement and
 extension to our current Microwave Components and Systems Business. Our
 microwave business, which increased annual revenues by 27% last year
 substantially through organic growth, remains a key focus of our overall
 business strategy. Based upon current market conditions and customer order
 rates, we expect EMF product sales to approximate $3 million during the
 next twelve months. Over the next few months, EMF operations will be
 relocated and consolidated into our existing facilities in State College,
 PA," he concluded.
     Forward-Looking Information
     This release contains forward-looking statements. These forward-looking
 statements are within the safe harbor provisions of the Private Securities
 Litigation Reform Act of 1995. They are based on current expectations and
 are subject to certain risks, uncertainties and assumptions. Factors that
 could cause results to differ from the Company's expectations or historical
 results include the ability of Spectrum Control to successfully integrate
 the acquired business with its existing operations and other factors
 generally affecting the Company's businesses. For factors generally
 affecting Spectrum Control's businesses, please see the Company's Annual
 Report on Form 10-K and Quarterly Reports on Form 10-Q that have been filed
 with the Securities and Exchange Commission. The Company undertakes no
 obligation to publicly update or revise any forward-looking statements,
 whether as a result of new information, future events, or otherwise.
     About Spectrum Control
     Spectrum Control is a leading designer and manufacturer of components
 and systems used to condition, regulate, transmit, receive, or govern
 electronic performance. The Company's largest markets are
 military/aerospace and telecommunications equipment, with applications in
 secure communications, smart weapons and munitions, missile defense
 systems, avionic upgrades, wireless base stations, broadband switching
 equipment, and global positioning systems. Automotive represents an
 emerging market for the Company's products, with significant applications
 in DC motors, telematics, and electronic safety controls. Other markets for
 the Company's products include medical instrumentation, industrial
 equipment, computers, and storage devices.
     For more information about Spectrum Control and its products, please
 visit the Company's website at www.spectrumcontrol.com.
 
 

SOURCE Spectrum Control, Inc.

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