Elpac Sells Assets To International Components Corporation
Elpac Will Operate As Before, With Additional Resources And Synergies
IRVINE, CA and Westchester, IL – August 29, 2005 – The shareholders of Elpac Electronics have executed an agreement to sell substantially all of the company’s assets to International Components Corporation (ICC), a Chicago based manufacturer of battery chargers and rechargeable battery technology solutions.
The transaction culminates an extensive effort on the part of Elpac shareholders to find the right strategic partner to continue to address the needs of Elpac’s rapidly growing, global, customer base. ICC and Elpac have tremendous market, product, technology, and geographic synergies that set the stage for expansion of their track-records of excellence in service and innovation in the power-electronics industry.
Elpac Electronics will operate in much the same way it has in the past but will have the resources and technologies of ICC at its disposal. Marshall Wright will continue as COO (Chief Operations Officer) and will report to Stephen M. McClure, ICC’s CEO. All Elpac operational functions including product development, engineering, sales, marketing, customer service and finance will report to Mr. Wright at Elpac’s Irvine headquarters. Gordon Benhard will continue at Elpac in an advisory role to the company. Customers will see no change in operations as a result of the transaction.
About ICC
Founded in Chicago, Illinois in 1967, International Components Corporation (ICC) is a privately-held developer and manufacturer of custom battery charger and rechargeable battery technology solutions to the Communications, Portable Power Tool, Digital Still Camera, and Consumer Round Cell OEM markets.
ICC operates in seven countries including the United States, Mexico, United Kingdom, Germany, China, India, and Japan. The company produces primarily in China and India from its own high volume electronics manufacturing facilities with more than 250,000 square feet of factory space and approximately 1,200 employees.
For more information, visit www.iccus.com.
About Elpac Electronics
Elpac Electronics is a leading manufacturer of power supplies, AC/DC adapters, custom docking stations and battery chargers. Based in Irvine, CA with manufacturing at a company-owned and operated facility in Shenzhen, China, Elpac combines innovative U.S. design capabilities with Chinese production efficiency. Elpac customers are major international OEMs, typically leaders in their fields, who utilize the firm’s ability to custom-design products to meet their most challenging requirements.
The company emphasizes design and manufacturing techniques that far surpass industry norms. For example, all products are tested to “demonstrate” MTBF (Mean Time Between Failures) of at least 100,000 hours at 40 degrees Celsius (compared to many manufacturers who merely “calculate” MTBF at a lower temperature).
Elpac is credited with an exceptional customer service record, evidenced by surveys scoring customers’ satisfaction at 92%, far above the national average of 74% (according to the American Customer Satisfaction Index survey conducted by the University of Michigan Business School).
Its most popular products are available in OEM quantities, at OEM pricing, in 3 weeks or less FOB Asia.
For more information, visit www.elpac.com.
For More Information
Marshall Wright
(949) 476-6070
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