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Audiovox To Buy Code-Alarm

1/09/2002 12:06:00 PM Eastern

Las Vegas - Audiovox Electronics said it has signed a non-binding letter of intent to purchase the assets of car security supplier Code-Alarm.

Audiovox Electronics president and CEO Pat Lavelle said the acquisition would strengthen Audiovox's position in both the OEM and retail markets.

Hauppauge, N.Y.-based Audiovox said completion of the transaction is subject to several conditions, including resolution of the status of certain customer agreements.

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