A Carson City company that makes tiny electric motors for the aerospace and defense industries has been sold.
Pro-Dex Inc. of Irvine, Calif., said last week it sold its Astromec subsidiary for $830,000 in cash. Pro-Dex didn't disclose the name of the buyer.
It purchased Astromec Inc. for $2.7 million in 2006.
The sale agreement covers the assets of Astromec, including equipment and inventories, but doesn't include the company's building on Arrowhead Drive.
Along with the $830,000 in cash, Pro-Dex may receive future payments based on sales of Astromec products during the next three years.
Mark Murphy, president and chief executive officer of Pro-Dex, said the company is fine-tuning its focus on products for medical and motion-control systems.
Astromec, with its emphasis on aerospace and defense products, doesn't fit with that strategy, he said.
The Carson City employs 19 fulltime workers.
