Paramit Corporation Completes Deal to Buy Lemtronics

MORGAN HILL, Calif.--()--Paramit Corporation, a provider of medical devices and instrument manufacturing services, today announced that it has successfully completed a deal with Lemarne Corporation Limited (ASX:LMC) to purchase its Malaysian based manufacturing organization – Lemtronics. Paramit had previously announced on October 7, 2011, that it had entered into an agreement with Lemarne to purchase Lemtronics.

The sale was approved by Lemarne’s shareholders at a general meeting, which was held on the 24th of November.

Commenting on the completed acquisition, Paramit CEO Billoo Rataul said:

“We are very excited about completing the acquisition of Lemtronics. This acquisition expands our global footprint and gives us a vehicle to offer medical device and instrument manufacturing services to our current and future customers for the Asian and European markets. We see a tremendous potential to service our customers worldwide.”

Paramit Corporation, a portfolio company of Altaris Capital Partners, LLC located in Morgan Hill, California, is an industry leader in providing medical devices and instrument manufacturing services. Its website is www.paramit.com.

Contacts

Paramit Corporation
Jim Creel, 408-782-5653
Cell: 408-693-4795
Vice President of Marketing and Sales

Contacts

Paramit Corporation
Jim Creel, 408-782-5653
Cell: 408-693-4795
Vice President of Marketing and Sales