Oak Industries has signed a letter of...
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Oak Industries has signed a letter of intent to purchase all of Orlando-based Chip Supply Inc.’s issued and outstanding shares for an unspecified amount of cash and common stock, Oak Chairman E. L. McNeely said Wednesday.
The purchase marked “a continuance of our strategic plan to acquire companies that complement our existing businesses,” McNeely said.
Chip Supply manufactures monolithic integrated circuit chips for the aerospace and space satellite market. The company reported $4 million in operating income on $20 million in revenue for the year ended Dec. 31. Chip Supply will continue to operate in its existing headquarters and factory in Orlando.
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