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News Breaks | | | | February 1, 2013 | | 16:17 EDT |  | TTMI | TTM Technologies signs letter of intent for SYE and DMC plants
TTM Technologies announced that it has signed a letter of intent with its minority partner, Shengyi Technology Co. Ltd., to dispose of TTM's 70.2% equity interest in the SYE plant and to acquire Sytech's 20% equity interest in the DMC plant. Both the SYE and DMC plants manufacture conventional PCBs and are located in Dongguan, China. Subject to conclusion of a formal sale and purchase agreement between the parties, the transaction is expected to close by the end of the second quarter of 2013. A condition for closing is that the parties value all of SYE at 1B RMB (about $161M) and all of DMC at 900M RMB (about $145M). | |
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