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GE Supply Agrees to Acquire Questron Technology Assets
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Business New Haven
4/29/2002
By: BNH
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SHELTON - GE Supply, the electrical, voice and data products distribution business of the General Electric Company (NYSE: GE), has reached an agreement to acquire the assets of Questron Technology, Inc. (OTC BB:QUSTQ). The GE-Questron agreement has been approved by the United States Bankruptcy Court for the District of Delaware.
Questron filed for Chapter 11 protection in February and conducted a court-approved auction of its assets. The transaction is subject to satisfaction of certain conditions, including antitrust approval, and is expected to close within the next 20 days.
Questron, which is headquartered in Boca Raton, Fla., provides supply chain management solutions and inventory logistics management programs through two operating units: Questron Distribution Logistics and Questron Aerospace Logistics. Its customers span a broad cross-section of industries in the commercial and aerospace markets. Sales in 2001 were approximately $130 million.
GE Supply is a full-line, international distributor of electrical, voice and datacom equipment and supplies from GE and other leading manufacturers. The company has more than 150 branch offices and five distribution hubs throughout the United States, Mexico, South America, Ireland, the Middle East, and Southeast Asia.
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