Business transaction

Business transaction

K-Tec Holdings Inc., New York and Menlo Park, CA, has purchased Reliance Comm/Tec, Cleveland, from Rockwell International Corp., Seal Beach, CA. With $458 million in sales last year and more than 3600 employees, Reliance Comm/Tec provides power, connection, protection, enclosure transmission and loop-test products, systems, and turnkey service support to telecommunications companies that service the local-subscriber loop. Last year, the company became part of Rockwell as a result of Rockwell`s acquisition of Reliance Electric, which owned Comm/Tec. The transaction, which is subject to customary approvals, including antitrust clearance, is expected to close early this summer.