LaBarge to be Acquired by California Company
LADUE (AP) - A California company is buying Missouri-based LaBarge Inc., which makes electronic circuit boards, cables and other components.
LaBarge and Ducommun, an aerospace supplier, announced the deal Monday. Ducommun will pay $340 million for LaBarge which has its corporate headquarters in LaDue and employs nearly 400 people in Joplin.
The deal must be approved by regulators and LaBarge's shareholders. If finalized, the deal should close in June.
The St. Louis Post-Dispatch reports that Ducommon plans to move its headquarters to Carson, Calif., and create the Ducommun LaBarge Technologies subsidiary.
LaBarge has more than 1,500 employees at 11 manufacturing facilities, including 370 at a cable plant in Joplin.
LaBarge's largest customers include Boeing, Raytheon and General Electric. Last year, it had revenue of $324 million.