FIFE, SCOTLAND — Simclar International Ltd. will pay $10 million in cash for a 51 percent stake in contract manufacturer Techdyne Inc.
Simclar offers an array of contract manufacturing services including injection molding and assembling services. It has plants in Fife and Wisconsin, and its top markets include telecommunications, medical equipment, rapid transit and computer peripherals.
Techdyne specializes in electronics goods. It reported 1999 sales of $48.3 million. The firm has four locations in the United States, one in Europe and an affiliate in China.
Simclar is buying the stake from medical products manufacturer Medicore Inc. of Hialeah, Fla. Simclar signed a letter of intent Dec. 13.
Medicore will maintain approximately 20 percent interest in Techdyne. It will use proceeds of the sale to expand its medical supply and dialysis operations, and to buy back outstanding shares.