ATLANTA, GA / ACCESSWIRE / November 19, 2014 / World Micro Components, Inc. and MIT Distributors, Inc. today announced they have entered into a definitive asset purchase agreement, which has been unanimously approved by the board of directors of each company.
MIT will maintain its brand name and presence in Dallas, TX.
World Micro CEO, Dan Ellsworth, cited, "This is an exciting time for us to focus on the synergies and strategic vision both organizations share. Our primary focus in purchasing certain assets is making sure the MIT customers continue to get great support and additional franchise product offerings."
Ellsworth continued, "When we looked at this opportunity, it was critical that both World Micro and MIT maintained appropriate certification's for servicing the Aerospace industry. From the customer perspective, there will be little to no change."
Both organizations bring significant levels of expertise from corporate management experience to advanced logistics, warehousing and quality processes. MIT's Tom Gilbert commented, "By capitalizing on the synergies between MIT and World Micro, we can now offer our customers more options, global support, and new product offerings."
Gilbert continued, "MIT has invested heavily in building its business over the past 25 years. With strong aerospace customers and top industry certifications, MIT customers can now benefit from engineering design services and Franchise lines that World Micro has in place. Dan and I have discussed this option over the past 5 years and I feel it's the best long-term solution to support our loyal customers and employees deep into the future."
Both World Micro and MIT are Independent Distributors of Electronics Association (IDEA) members, have ISO 9001-2008 and AS9120 certifications, as well as numerous industry associations.
Ellsworth will operate as CEO of both entities while Gilbert will stay on in a consultative role.
About World Micro, Inc.:
World Micro, Inc. is headquartered in Atlanta, GA with sales offices and distribution centers in multiple locations. Founded in 1995, World Micro serves the Aerospace, OEM, CM and EMS marketplace with extensive support to established key customers. World Micro maintains in house engineering design services and over 30 franchise lines.
About MIT Distributors, Inc.:
MIT Distributors, Inc. was founded in 1992 in Texas and has maintained an industry leadership position in both parts inspection and counterfeit detection/ avoidance techniques. MIT supports primarily the aerospace and defense markets, servicing customers both domestically and globally. MIT has been the recipient of multiple Aerospace supplier awards and adheres to stringent supplier quality assurance requirements.
CONTACT:
World Micro Components. Inc.
Direct: 770-698-1928
[email protected]
Website: www.worldmicro.com
SOURCE: World Micro, Inc.