Mega Industries LLC Breaks Off Discussions with Ferrite Microwave Technologies
For Immediate Release:
07 September 2012 – GORHAM, MAINE USA
MEGA Industries – Breaks Off Merger Talks
Mega Industries LLC (Mega), an Anania & Associates Investment Company LLC (AAI) portfolio company and a world leader in high power RF equipment, has broken off discussions with Ferrite Microwave Technologies LLC (Ferrite) of Nashua, New Hampshire regarding a proposed agreement to merge the companies.
Mega Industries will continue to produce RF solutions for its customers around the world, including Rigid waveguide, Semi-Flexible waveguide, Coaxial Transmission Line and the associated components for all three. Mega is now committed to redoubling its efforts to organically expand its product line including high power circulators, isolators and new, state of the art, loads. Over the last two decades Mega has developed a valued customer base and dealer/representative network spanning the globe.
“We are disappointed we could not come to terms in regards to Mega’s planned merger with Ferrite’s components division.” says AAI’s Chairman Peter V. Anania. “However, we still have a tremendous opportunity to strengthen Mega’s standing in the market by organically broadening its range of product offerings.”
Over the last few years Mega built up substantial manufacturing capacity, strong engineering resources and a more complete offering of RF solutions. This resulted in their largest monthly shipments to date which included a large order to the Korean Atomic Energy Research Institute (KAERI), nearly doubling their average output. Mega expects to exceed that record this month with large orders for Deutsches Elektronen-Synchrotron (DESY) in Hamburg, Germany and the Australian Navy. Mega plans to continue to add to its product offerings, do it efficiently and provide shorter lead times.
In addition to this transaction, Industrial Microwave Oven Services LLC (IMOS), another AAI portfolio company, has broken off its discussions regarding a proposal to merge with the Systems Division of Ferrite which was to be located in Nashua, NH.
Mega Industries LLC is celebrating its 23rd year in business in 2012. Mega manufactures waveguide and coax components which allow Scientists and Engineers to create RF Systems for research, manufacturing and radar systems, including extreme high power and/or ultra-high vacuum needs. Mega currently operates from a 30,000 square foot facility specifically designed to accommodate the manufacturing requirements for these specialized devices. Mega is one of nine manufacturing concerns owned by AAI, with over 160 employees and occupying over 130,000 square feet of light manufacturing in the State of Maine.