GPS takes controlling interest in MeT
Monday, 13 August, 2001
GPS Online, based in Brisbane, has acquired a 51 per cent interest in Microelectronic Technologies from Hitachi in exchange for one million shares. The agreement makes Hitachi the eighth largest shareholder in GPS Online.
"Increasing international business and large projects are putting a big demand on our existing specialised engineering resources" GPS Online managing director Robert Angel said. "There is great synergy between MeT's electronic engineering skills and GPS Online's growing need for a broader engineering base."
"MeT is ISO 9001 compliant and has completed a number of "˜milspec' projects and this capability is vital to GPS Online as we continue to tender and win military projects both within Australia and offshore," Angel added.
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