Filtran bought for $1.81M

Circuit board maker Filtran Microcircuits Inc. is acquired by Toronto’s Firan Technology Group (FTG), which supplies aerospace and defence electronics products and subsystems to the North American market. FTG has reportedly agreed to pay $1.81 million for the subsidiary of New Jersey-based Merrimac Industries Inc., $800,000 of which has already been paid up front. The balance of the sale costs, which include the assumption of some $360,000 in liabilities, will be due when the deal closes sometime in early March, according to Filtran. Ottawa-based Filtran had about $4 million in sales in 2007 and some 60 employees at the end of 2006. It is not yet clear whether the sale will affect jobs, but FTG president and CEO Brad Bourne indicates local operations will see some changes.

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