TTM Technologies, Inc. and Viasystems Group, Inc. Receive Clearance From the Committee on Foreign Investment in the United St...
May 05 2015 - 9:05AM
TTM Technologies, Inc. (Nasdaq:TTMI) ("TTM") and Viasystems Group,
Inc. (Nasdaq:VIAS) ("Viasystems") today announced that the
companies have received notice from the Committee on Foreign
Investment in the United States ("CFIUS") that it has concluded its
review of TTM's proposed acquisition of Viasystems and determined
that there are no unresolved national security concerns with
respect to the proposed transaction. The proposed acquisition
remains subject to review by the United States Federal Trade
Commission ("FTC"), as well as other customary closing conditions.
TTM expects the acquisition to close in the second quarter of 2015.
About TTM
TTM Technologies, Inc. is a major global printed circuit board
("PCB") manufacturer, focusing on quick-turn and technologically
advanced PCBs and the backplane and sub-system assembly business.
TTM stands for time-to-market, representing how TTM's
time-critical, one-stop manufacturing services enable customers to
shorten the time required to develop new products and bring them to
market. Additional information can be found at www.ttmtech.com.
About Viasystems
Viasystems Group, Inc. is a technology leader and a worldwide
provider of complex multi-layer PCBs and electro-mechanical
solutions ("E-M Solutions"). Its PCBs serve as the "electronic
backbone" of almost all electronic equipment, and its E-M Solutions
products and services include integration of PCBs and other
components into finished or semi-finished electronic equipment, for
which it also provides custom and standard metal enclosures,
cabinets, racks and sub-racks, backplanes and busbars. Viasystems'
approximately 14,800 employees around the world serve over 1,000
customers in the automotive, industrial & instrumentation,
computer and datacommunications, telecommunications, and military
and aerospace end markets. For additional information about
Viasystems, please visit the company's website at
www.viasystems.com.
Forward-Looking Statements
Certain statements in this communication may constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements relate to
a variety of matters, including but not limited to: the timing and
consummation of the proposed merger; the ability of the parties to
consummate the proposed merger and the satisfaction of the
conditions precedent to consummation of the proposed merger,
including the ability to secure regulatory approvals in a timely
manner or at all; and other statements that are not historical
fact. These statements are made on the basis of the current
beliefs, expectations and assumptions of the management of TTM and
Viasystems regarding future events and are subject to significant
risks and uncertainties, many of which are beyond the control of
TTM or Viasystems. Such statements are predictions, and actual
events or results may differ materially.
Additional factors that may cause results to differ materially
from those described in the forward-looking statements are set
forth in the Quarterly Report on Form 10-Q of TTM Technologies,
Inc. for the quarter ended March 30, 2015, which was filed with the
Securities and Exchange Commission (the "SEC") on May 5, 2015,
under the heading "Item 1A. Risk Factors" and in the Annual Report
on Form 10-K of Viasystems for the year ended December 31, 2014,
which was filed with the SEC on March 12, 2015, under the heading
"Item IA. Risk Factors," and in each company's other filings made
with the SEC available at the SEC's website at www.sec.gov.
Neither Viasystems nor TTM undertakes any obligation to update
any such forward-looking statements to reflect any new information,
subsequent events or circumstances, or otherwise, except as may be
required by law.
CONTACT: TTM Investors
Todd Schull
Chief Financial Officer
714-327-3000
Lisa Laukkanen
Investor Relations
The Blueshirt Group
415-217-4967
lisa@blueshirtgroup.com
Viasystems Investors
Kelly Wetzler
SVP Corporate Development
314-746-2217
kelly.wetzler@viasystems.com
Erica Mannion
Investor Relations
Sapphire Investor Relations, LLC
415-471-2703
emannion@sapphireir.com
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