Nov 13 2009
Del Global Technologies Corp. (OTCBB: DGTC) (“Del Global” or “the Company”) and United Marketing Group (“UMG”) have entered into an Agreement in Principle to transfer certain assets and the product lines of Del Medical Imaging from Del Global to UMG. It is the goal of the parties to have the transaction completed prior to the 2009 Radiological Society of North America (RSNA) trade show beginning at the end of this month. This strategic acquisition adds the heritage and quality of the Del Medical X-ray products to the already robust product portfolio of UMG.
“UMG intends to continue to run Del Medical as a wholly-owned subsidiary, enhance the existing product line and maintain the collective current channels of distribution. We are proud to bring the Del Medical reputation under the UMG umbrella. We will continue to offer the same quality and reliability of Del Medical products that our customers have come to expect,” says Toufic Lorenzo, President & CEO of United Marketing Group.
“We are pleased that we have found a home with UMG for the Del Medical U.S. imaging business that will provide for it to grow and prosper. The transaction does not include our Villa subsidiary in Italy,” said John Quicke, President and CEO of Del Global. He added, “After completion of this transaction Del Global will focus its efforts on growing Villa in the international imaging markets and the power supply business through its RFI subsidiary.”
The transaction is subject to execution of a definitive agreement among the parties and approval of the Boards of Directors of Del Global and UMG. No assurances can be given that a definitive agreement will be executed.
Source:
Del Global Technologies Corp.