Amadeusz Juskowiak

Circuit systems csyi buys board maker

Circuit Systems Inc said it has bought all of the stock of Ionic Industries Inc in exchange for 3677272 shares of its common

Following the exchange there will be 4969643 shares of Circuit Systems stock outstanding Ionic holders will own about 74 pct of the outstanding stock of Circuit Systems it said

Ionic a maker of circuit boards had revenues of 84 mln dlrs and pretax profits of 232000 dlrs in 1986 up from revenues of 59 mln and pretax profits of 204000 dlrs in 1985 Circuit Systems said