Boonton Electronics expands Navy contract; UMS acquires researchers; Innophos Holdings buying back stock.
Wireless Telecom Group Inc., in Parsippany, announced Wednesday its wholly owned subsidiary, Boonton Electronics, has been awarded an increase of $1.5 million to its contract with the U.S. Navy. The total contract is for approximately $3 million, and a considerable portion of this contract will be fulfilled over the next 12 months.
UMS Group announced Wednesday it has acquired Research Reports International. Under the terms of the transaction, UMS Group, in Parsippany, has assumed ownership of Research Reports; UMS’s new Global Business Intelligence Center, with headquarters in Manila, Philippines, will serve as the global hub of the company’s expanded research.
Axion International, in New Providence, announced Wednesday it has signed a contract manufacturing agreement with Coll Materials that will provide expanded manufacturing capacity located at Coll’s Waco, Texas, facility.
Innophos Holdings Inc., in Cranbury, announced Thursday its board of directors has authorized a repurchase program for company common stock of up to $50 million. On July 31, the company reported 21,766,338 shares of common stock outstanding.