GE to buy Ion Track

Plainville, CT- GE Industrial Systems, a division of General Electric, has entered into an agreement to purchase Ion Track Instruments, a maker of ion trap mobility spectrometry systems for trace detection of narcotics and explosives. Ion Track will join GE Interlogix, a subsidiary of GE Industrial Systems. In June 2002, Ion Track filed for an IPO on the NASDAQ exchange but withdrew it on September 24. Castle Harlan Partners, TGE Group Limited and four members of senior management currently own 65%, 20% and 15%, respectively, of Ion Track’s outstanding common stock, according to the company’s filing.

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