Cemtrex Announces Exchange Offer To Buy Key Tronic

(RTTNews) - Cemtrex Inc. (CETX) announced an exchange offer to acquire Key Tronic Corp. (KTCC) by offering to exchange each outstanding share of common stock of Key Tronic for one share of Cemtrex common stock.

The purpose of the offer is for Cemtrex to acquire control of, and ultimately the entire interest in, Key Tronic. This exchange offer is the first step in Cemtrex's plan to acquire all of the outstanding shares of Key Tronic, which may not be completed through this offering and may be accomplished through one or more transactions following this offering.

Cemtrex estimates there would be approximately $5 million to $7 million in annual increased profit for Key Tronic if it was operated by Cemtrex management as a subsidiary of Cemtrex. The elimination of substantial public company costs would eventuate into material savings in expenses.