Business Services Industry
East Aurora, N.Y.-Based Electronics Company Partners with North Carolina Firm.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, November, 2000 by Robinson, David
Nov. 1--Acme Electric Corp. has signed a three-year agreement with a North Carolina power control products maker that the East Aurora electronics maker said could generate more than $25 million in new business.
The signing of the contract with Invensys Power Systems formalizes a relationship that has been at the heart of a debate over the merits of Acme's agreement to be acquired by Key Components LLC in a deal worth $56.7 million.
Acme's board of directors last month recommended that shareholders approve Key's offer to acquire the company for $9 per share in cash, following a second review of the merger proposal by Ernst & Young, its financial adviser, in light of the potential for winning new business from Invensys.
But Robert J. McKenna,...
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