Subsequent Event
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3 Months Ended | ||
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Mar. 30, 2013
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Subsequent Event [Abstract] | |||
SUBSEQUENT EVENT |
On April 1, 2013, the Company acquired the remaining 60% of the capital stock of WhiteOak that it did not already own for $1,000. WhiteOak will be merged into HCT and relocated to HCT’s facility in California. HCT will manufacture, market, sell and have design control for all current WhiteOak products and over time migrate them to the HCT brand. The combination of HCT and WhiteOak gives Sun full ownership of the technology to develop the next generation of Sun’s electronic control products. The Company has not completed the initial accounting for the business combination, but does not expect the acquisition to have a material impact on its consolidated financial statements. |
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- Details
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- Definition
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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