Dynasil and EMF acquisition agreement
Consummation of the transaction is contingent upon several important conditions including successful completion of debt and equity financing efforts that are currently well underway. The transaction closing is currently scheduled for October 2, 2006. The current EMF owner and CEO, Ms. Megan Shay, plans to continue in an active leadership role and executive position for at least one year after closing. If consummated, Dynasil's plan is for EMF to continue to operate from its Ithaca, N.Y. facility as a Dynasil business unit. Ms. Shay commented that
"This is a very positive development for EMF customers and employees since Dynasil brings increased capabilities and resources to EMF." Mr. Craig Dunham, Dynasil's President and CEO, had the following comments on the definitive agreement: "I believe that EMF will be an excellent addition to Dynasil with EMF's broad capabilities for optical coatings, strong people, and optical customers and markets that fit well with Dynasil. EMF and Dynasil have some complementary strengths that we expect will result in increased growth and profitability for both companies."
