CPI Econco Acquires Freeland Products

February 17, 2012

Woodland, CA - Feb 13, 2012 - The Econco Division of Communications & Power Industries (CPI) has acquired the business of Freeland Products, a Louisiana-based company that repairs and rebuilds vacuum electron devices for the communications, industrial, scientific and medical markets. CPI Econco Division and Freeland Products provide similar services to customers in shared markets.

Under the terms of the asset purchase agreement, CPI Econco Division has acquired all the inventory, equipment, supplies and substantially all the other assets of Freeland Products for an undisclosed sum. CPI Econco Division will integrate these assets into its Woodland, CA, facility, and will run the business from that location. The acquisition was funded entirely from CPI's cash on hand.

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