Two Local High-Tech Companies Merge

Two Spokane Valley high-technology companies have merged, cutting their costs and possibly some jobs.

Consolidated Electronics Inc. and Adept Engineering Inc. completed the merger Friday. The companies already are located in the same Spokane Industrial Park building and share many of the same 30 total employees.

In addition, both are subsidiaries of Plentech Electronics Inc., a Vancouver, British Columbia, company. Investors trade Plentech stock on the over-the-counter market in Spokane and the Vancouver Stock Exchange.

Consolidated’s board of directors on April 21 approved the merger, which calls for acquisition of all assets and liabilities of Adept. Adept shareholders will receive convertible preferred shares of Consolidated.

The value of the deal was not released.

The merged company will keep the Consolidated name, but may cut some employees, said Consolidated Chairman Wendell Satre.

Satre could not say how many people might lose their jobs, but one of the first to go was David Keech, president of Adept. He was replaced by Satre, a retired chairman of Washington Water Power Co.

“It’ll take a little time, of course, to establish our markets and get products out,” Satre said. “But I’m very optimistic about our success.”

Consolidated Electronics produces a proprietary gas density monitor for high-voltage, gas-insulated equipment. Adept assembles electronic circuit boards and manufactures Consolidated’s density monitor.

Plentech lost about $320,000 on sales of $2.4 million during the first six months of the current fiscal year.