For Immediate Release:
20 May 2012 – WINDHAM, MAINE USA
Industrial Microwave Oven Services/Ferrite Microwave Technologies – In Merger Talks
Industrial Microwave Oven Services LLC (IMOS), an Anania & Associates Investment Company
LLC (AAI) portfolio company and a leader in microwave process equipment is pleased to announce the signing of a Memorandum of Understanding (MOU) with Ferrite Microwave Technologies LLC (Ferrite) of Nashua, New Hampshire. The MOU outlines a proposed agreement to merge the companies, subject to finalizing the appropriate documents.
The potential merger will not only create tremendous value for the merged company’s owners,
but also their customers by strengthening the engineering capabilities, expanding market reach
and creating synergistic opportunities for the new organization.
IMOS sells and services microwave heating, cooking and tempering systems. Customers include several Fortune 500 companies and their counterparts overseas, who specialize in food
processing, materials manufacturing or otherwise require heat to thaw, cook or cure compounds.Ferrite’s systems division pioneered the design and manufacture of many of the world’s high power industrial microwave systems.
“This planned merger between IMOS and Ferrite will create an organization with greater
capacity and continue its innovation into this sector.” says Mr. Peter V. Anania, Chairman of
AAI.
“I see this as a tremendous opportunity to amplify the present efforts of the companies
involved and better serve their markets.”
His comments were echoed by IMOS’ Vice President of Sales, Mr. Neil Towey who said: “The ability to leverage the system design expertise and manufacturing capacity of both Ferrite and our sister company, Mega Industries, will allow this proposed merger to offer new innovative products which will help increase process throughput for our customers worldwide. This will create tremendous new opportunities for us.”
The proposed merged entity will locate its systems business in Ferrite’s current facility in
Nashua, NH. In addition to this transaction, under the same MOU, Mega Industries LLC, another
AAI portfolio company, proposes to be merged with the Components Division of Ferrite which
will be relocated to Gorham, Maine.
IMOS is celebrating its 3rd year in business and manufactures, sells and services microwave
heating, cooking and tempering systems. IMOS customers specialize in food processing,
materials manufacturing or otherwise require heat to thaw, cook or cure compounds.