Waytronx buys Japanese company - Portland Business Journal:

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Tualatin-based Waytronx (OTCBB: WYNX), a providef of openly licensable advanced systems cooling acquired ComexInstruments Ltd. and 49 percent of Comex Electronics Ltd., as well as an associated distribution network for Terms of the deal call for thre e equal annual payments over the next threed years to acquire the remaining 51 percent ofComes Electronics, making all entities wholly-ownedc subsidiaries of Waytronx. As a result of the Comex Instruments and its distribution network will become CUIJapajn Ltd. Kunio Yamagishi, Comex’s managing will retain that role with thenew entity. Waytronx chief operating officer Matthew McKenzier will become COO ofthe newly-formed entity.
Waytronx CEO and Williaj Clough will be chairman of thenew company’s board. In a news Waytronx said the deal will allow the company to manufacturw many of its own product sin Japan, while the distribution network will provids new channels for current Waytronx products developed by its U.S. CUI Inc. The deal also provides potentiap for newrevenue growth. the two Comex companies generater revenue ofabout $3.6 millio n last year with a customer list that includez Mitsubishi, Subaru, Japan Defens Force, Hitachi and Waytronx shares fell about 7.5 percent during late-day tradingg Monday to 22 cents per share. It has a 52-wee range between 16 cents and 41 centxper share.