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DDL Electronics Sues Ex-Partner in Merger

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DDL Electronics announced it has filed a lawsuit against Century Electronics Manufacturing Inc., alleging that Century breached a financing agreement signed in May.

The Newbury Park-based company contended in the suit that Century failed to provide DDL with a $3.3-million loan by June 1 to repay a short-term debt. As a result, on June 30, DDL obtained alternate financing from Thomas M. Wheeler, a private investor.

The previously announced merger of DDL and Century, which was contingent on Century’s performance under the financing agreement, was not consummated, DDL said.

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DDL provides design and electronic manufacturing services to the instrumentation, communications, computer, medical and aerospace industries.

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