2023-03-09 16:43:17 ET
- TTM Technologies ( NASDAQ: TTMI ) said Thursday it would divest its Shanghai Backplane Assembly for about $11.8 million to DBG Holdings Limited.
- The company said it expects to close the deal by the end of the first quarter.
- TTMI said BPA is a small assembly facility that made $44.7 million in revenues and "an immaterial amount of operating income" in 2022.
- "While we are announcing the divesture of the Shanghai BPA business today, we will continue to operate the business in the same manner as we do now through the date of close, which we anticipate to occur near the end of the first quarter. This includes fully supporting our Shanghai BPA employees and customers," TTMI said in a statement.
- Press Release .
For further details see:
TTM Technologies offloads Shanghai BPA facility for $11.8M to DBG