Bell (AMEX:BI)
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Bell Industries, Inc. (AMEX:BI) today announced the sale
of substantially all of the assets, excluding real estate, of its J.W.
Miller division to Bourns, Inc. for $8.5 million in cash, subject to
post closing adjustments.
J.W. Miller manufactures and distributes a variety of standard and
custom magnetic components used in electronic applications for
computer, medical and telecommunications equipment. The unit had sales
of approximately $8.4 million in 2005.
"J.W. Miller is our smallest business unit, and the sale to Bourns
is in keeping with our strategy of focusing on core business
operations and aligning our resources to become leaders in the key
markets we serve," said John A. Fellows, Bell Industries' chief
executive officer.
Bourns, a privately owned company based in Riverside, CA,
manufactures electronic components for a broad range of markets. J.W.
Miller is based in Gardena, CA.
About Bell Industries, Inc.
Bell's largest operating unit, Bell Tech.logix, offers a
comprehensive portfolio of technology products and managed lifecycle
services, including planning, product sourcing, deployment and
disposal, and support services. Bell's Recreational Products Group
distributes after-market parts and accessories primarily to the
recreational vehicle and boating markets.