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Satellite-clock maker buys N.J. firm
Photo credit: Lockheed Martin illustration
Frequency Electronics Inc., based at Mitchell Field, said Monday it plans to acquire all shares of a New Jersey engineering and manufacturing company, Elcom Technologies Inc.
Frequency, a maker of precision timing devices for satellites, already owns about a fourth of Elcom's shares, and said it has entered into an agreement to buy the rest.
The deal is expected to close later this week.
Elcom,...
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