Press Release Source: Cetek Technologies, Inc.
Cetek Announces Acquisition
Monday April 4, 9:30 am ET
POUGHKEEPSIE, N.Y.--(BUSINESS WIRE)--April 4, 2005--Cetek Technologies, Inc. (Pink Sheets:CTKH - News) today announced the acquisition of Hybrid-Tek, Inc., a thick film on ceramic manufacturer. This acquisition is a 100% (wholly owned) subsidiary of Cetek Technologies, Inc.
Regarding the acquisition, the company is a New Jersey-based manufacturer that has been in continuous operations since 1982. The acquired company specializes in high quality thick film technology on ceramic for aerospace and various other applications. Thick film technology is the process by which circuitry is placed on ceramic substrates.
As previously stated, the growth of Cetek would be from internal expansion by product and customer additions, as well as by acquisition of manufacturing companies with similar synergies. This particular acquisition is expected to take advantage of various synergies that should serve to complement Cetek's operations.
Cetek CEO Fayiz Hilal stated, "This acquisition will provide more exposure to Cetek Technologies, as well as for Cetek's ceramic into more markets. This company has considerable talent and growth potential, which should most certainly enhance Cetek's overall business model. We are pleased to be able to make this announcement, and we will provide more information as warranted."
About Cetek Technologies
Cetek Technologies' principal activity is to market and manufacture ceramic products for several different industries. Cetek products are of high grade industrial ceramics including alumina, cordierite, mullite, and zirconia for thermal shock, wear, electrical isolation and corrosial resistance applications. Cetek's substrates are commercially produced in 12 inch, as well as larger size, panels.
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