ORLANDO, Fla.--(BUSINESS WIRE)--The LGL Group, Inc. (NYSE MKT: LGL) (the “Company”) announced that its subsidiary, MtronPTI, has expanded its operations in Noida, India, by adding a technology design center and new test and production capacity.
For nearly 20 years, MtronPTI has operated in Noida, India primarily as a test and assembly operation. In recent years, the India region has grown in significance for the Company as many of its global customers have added design centers of their own in India to take advantage of the growing pool of engineering talent available. The new technology design center began operating during third quarter of 2014 and has plans to add up to three additional design engineers over the next 15 months.
Michael Ferrantino, the Company’s Executive Chairman and CEO, said, “The addition of a technology design center in India is a natural next step in our product development strategy. This will expand our design bandwidth and allow us to continue the benefits of operating a fully functional offshore operation that is fully registered for all of our markets, including aerospace and defense.”
Over the course of 2014, India has also added new capabilities by expanding its testing systems and production capacity for both its existing OCXO and LC filter lines. In addition, many of the designs and a portion of the equipment from MtronPTI’s purchase of the filter product line from Trilithic in January 2014, were placed in service directly within the India operations.
Marc Gabelli, the Company’s Chairman of the Board, said, “We are pleased with the addition of a technology design center in Noida, India, and the expansion of the operating platform. It will allow the Company to tap into local engineering resources and take advantage of being co-located in region with the design communities for many of our customers. Michael and his team continue to increase their efforts on new product development as part of enabling top-line growth and value creation for shareholders. These efforts have the potential to position the Company to capitalize on the growth that is expected to prevail in the India region over the next 20 years.”
About The LGL Group, Inc.
The LGL Group, Inc., through its wholly-owned subsidiary MtronPTI, manufactures and markets highly-engineered electronic components used to control the frequency or timing of signals in electronic circuits. These components provide low noise and base accuracy for lab instruments, ensure reliability and security in aerospace and defense communications, and synchronize data transfers throughout the wireless and internet infrastructure.
Headquartered in Orlando, Florida, the Company has additional design and manufacturing facilities in Yankton, South Dakota and Noida, India, with local sales offices in Sacramento, California and Hong Kong.
For more information on the Company and its products and services, contact LaDuane Clifton at The LGL Group, Inc., 2525 Shader Rd., Orlando, Florida 32804, (407) 298-2000, or visit www.lglgroup.com and www.mtronpti.com.
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