Andrew Sells Mobile Antenna Division

Andrew Corporation says that it is exiting its automotive and mobile antenna product lines and selling the mobile antenna product line to PCTEL, Inc., for US$10 million in cash. Under a definitive agreement, PCTEL, based in Chicago, will purchase Andrew's mobile antenna product line including global positioning satellite (GPS), consumer and professional antenna products. The transaction is expected to close within the next 30 days.

Additionally, Andrew will discontinue service and manufacturing for its automotive antenna product line. Existing automotive antenna customers will be transitioned to alternative suppliers.

Andrew expects to record a US$7.1 million pre-tax loss in its fiscal fourth quarter related to exiting the automotive and mobile antenna product lines. Combined sales for the automotive and mobile antenna product lines were US$29 million in fiscal 2004."

Posted to the site on 29th October 2004