The LGL Group, Inc. (NYSE American: LGL) (the “Company”) a globally
diversified holding company with a history of operations dating back to
1914, today announced that management and its board of directors
(“Board”) are pursuing the development of aerospace and defense industry
(“A&D”) operating and advisory investment platforms in an effort to
enhance shareholder value.
The LGL Group expects to build several A&D verticals through the
introduction of industry focused partnerships and special purpose
vehicles formed to make targeted acquisitions. This effort will seek to
leverage the core competencies of the company’s management and board of
directors. The company would act as the financial and management
sponsor, raise capital from external nonaffiliated investors, and would
receive management fees and success-based incentives in accordance with
market practice. The Company cautions shareholders and others that there
can be no assurance that the foregoing business platform will be
executed, or that any transaction will be approved by the Board,
consummated, or if consummated, as to the timing thereof.
The Company’s Board may also decide to pursue other strategic
alternatives with its balance sheet, which may take the form of
potential business acquisitions or combination opportunities. The
Company is unable to project in any manner the course of action to be
pursued in such circumstances and whether such opportunities will be
available, and if available and successfully pursued, the Company
thereafter will be subject to future risks and uncertainties associated
with such opportunities which are unknown at this time.
Marc Gabelli, the Company’s Chairman, stated “We will continue to seek
value creation opportunities on behalf of our shareholders, and will be
judicious in our pursuit to increase shareholder value.”
http://www.lglgroup.com/investor-relations
About The LGL Group, Inc.
The LGL Group, Inc., through its two principal subsidiaries MtronPTI and
PTF, designs, manufactures and markets highly-engineered electronic
components used to control the frequency or timing of signals in
electronic circuits, and designs high performance frequency and time
reference standards that form the basis for timing and synchronization
in various applications. With roots in precision crystal filters for
radar in 1965, MtronPTI designs and manufactures RF & microwave
solutions for data timing and radio frequency spectrum control in high
reliability and harsh environment applications.
The company is presenting and exhibiting this week in Boston at the
International Microwave Symposium “IMS2019” consisting of over 600
companies that represent the state-of-the-art when it comes to
materials, devices, components, and subsystems, as well as design and
simulation software and test/measurement equipment.
In aerospace and defense markets, MtronPTI’s digitally tuned filters
support secure communications in the presence of electromagnetic
interference. Low drift, highly accurate oscillators provide reliable
frequency lock for ground, vehicle, air and satellite communication as
well as electronic countermeasures. Vibration and shock-resistant
crystal clocks sharpen radar images and help monitor commercial aircraft
engine performance. For internet communication, MtronPTI’s very low
noise and packet sync clocks help increase bandwidth and prevent data
loss in cellular base stations, micro and femtocells and Wi-Fi access
points. Millimeter wave filters ensure corporate and telecom
point-to-point links stay error free. On the lab bench or consumer
electronics production test floors, MtronPTI’s ultra low noise frequency
reference oscillators ensure accurate measurements. When public safety
is paramount, MtronPTI’s wide temperature range waterproof cavity
filters insure reliable radio communication. Satellite links, phased
array radars and anti-IED jammers use MtronPTI’s RF power amplifiers to
boost the signal to the antenna.
Headquartered in Orlando, Florida, the Company has additional design and
manufacturing facilities in Yankton, South Dakota, Wakefield,
Massachusetts and Noida, India, with local sales offices in Hong Kong,
Sacramento, California and Austin, Texas. MtronPTI is vertically
integrated with deep experience in basic material science, design and
manufacturing. With AS9100 Rev C and ISO 9001:2008 certification, sales
and support worldwide and as a recognized service leader, MtronPTI
supports innovation and reliability at major OEMs including Cisco,
Raytheon, Ericsson, Harris, Rockwell Collins, UTC Aerospace and nearly
2,000 smaller clients through distribution partners.
For more information on this press release or the Company and its
products and services, contact James Tivy at The LGL Group, Inc., 2525
Shader Rd., Orlando, Florida 32804, (407) 298-2000, or visit www.lglgroup.com
and www.mtronpti.com.
Caution Concerning Forward Looking Statements
This press release may contain forward-looking statements made in
reliance upon the safe harbor provisions of Section 27A of the
Securities Act of 1933, as amended, and Section 21 E of the Securities
Exchange Act of 1934, as amended. Forward-looking statements include all
statements that do not relate solely to historical or current facts, and
can be identified by the use of words such as “may,” “will,” “expect,”
“project,” “estimate,” “anticipate,” “plan,” “believe,” “potential,”
“should,” “continue” or the negative versions of those words or other
comparable words. These forward-looking statements are not guarantees of
future actions or performance. These forward-looking statements are
based on information currently available to us and our current plans or
expectations, and are subject to a number of uncertainties and risks
that could significantly affect current plans, anticipated actions and
our future financial condition and results. Certain of these risks and
uncertainties are described in greater detail in our filings with the
Securities and Exchange Commission. We are under no obligation to (and
expressly disclaim any such obligation to) update or alter our
forward-looking statements, whether as a result of new information,
future events or otherwise.
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