Spectrum Control Inc. Sold

Published 03/28 2011 03:46PM

Updated 03/28 2011 06:11PM

Spectrum Control Incorporated ? a Fairview-based company - sold to an Orlando-based company.

Spectrum designs and manufactures custom solutions for defense, aerospace, industrial, and medical industries.

The company will now serve as a wholly owned subsidiary of API Technologies Incorporated.

API acquired 100% of the issued and outstanding equity of Spectrum for $20 per share.

The total purchase price was $270 million.

CEO Dick Southworth says this merger means good news for shareholders now, and continued growth for the company world-wide and in Erie County.

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