- EE Times: MBO from ITT allows IN2TEC to expand
- (2001-10-05)
- MBO from ITT allows IN2TEC to expand into front panels
- By Chris Edwards, EE Times
- 5 October 2001 (9:54 a.m. GMT)
- Kettering-based IN2TEC plans to expand from its traditional market of membrane switches into front panels that contain
complete circuits.
- Following a management buyout (MBO) from ITT Industries in June, the company aims to use expertise in flexible circuits
built up as part of C&K Components.
- In2tec has developed its own manufacturing techniques, which include the ability to print electroluminescent display
components such as seven-segment indicators, directly on to a panel.
- In parallel, IN2TEC has cut a deal with US-based Duraswitch and co-developed a rotary switch that does not need a
PCB behind the panel, cutting its depth from 45mm behind the panel to less than 4mm. The technique has been extended to
sliders and will work for rotary potentiometers using conductive inks.
- Neil Armstrong, MD, said: "We aim to diversify into new markets. We have been stable as a company with annual sales of
£3m, but we plan to reach £10m by 2005, which would make us number one in the UK."
- The company has moved to more flexible automotive-style production techniques with a plan to cut lead times from four
weeks to a little over a week.
- Paul Cavendar, operations director, said: "The company was originally designed to build into stock. We wanted to get
away from that and focused on getting set-up times down."
- The MBO was funded by private investors.
- Armstrong said: "We reviewed venture capital as a possible route for investment but we asked ourselves, did we want to
sell up in three to five years or make it for the people who work here?"
- ITT does not hold any shares in IN2TEC but the Kettering company has kept purchase agreements with its former owner,
and has picked up a US and European distribution network through the C&K operation that still forms part of ITT.
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