Dan’s Biz Bookshelf: ‘Dream First, Details Later
Happy’s Tech Talk #40: Factors in PTH Reliability—Hole Voids
Facing the Future: Time for Real Talk, Early and Often, Between Design and Fabrication
TTM Adopts Special Board Resolution with DCSA Replacing SSA
February 6, 2023 | TTM Technologies, Inc.Estimated reading time: 1 minute
TTM Technologies, Inc., a leading global manufacturer of technology solutions including engineered systems, radio frequency (RF) components and RF microwave/microelectronic assemblies, and printed circuit boards (PCB), announced that pending confirmation by the Defense Counterintelligence and Security Agency (DCSA), the TTM Board of Directors has adopted a Special Board Resolution (SBR), replacing the Special Security Agreement (SSA) that the Company had entered into with the DCSA in 2010. The replacement of the SSA with the SBR is a result of the significantly reduced foreign ownership of TTM. The effective date of the SBR is February 2nd, 2023.
“Since the SSA was established in 2010, there has been a significant reduction in the foreign ownership of TTM’s public shares and our one non U.S. citizen Board member has retired,” said Rex Geveden, Chairman of the Board of TTM. “As a result, the DCSA has agreed to replace the SSA with the SBR. The company plans to maintain much of the robust infrastructure developed during the adoption of and compliance with the SSA to continue to serve our customers and to maintain our focus on the national security of the United States in our Aerospace and Defense Sector, as one of the top forty U.S. based defense companies,” concluded Mr. Geveden.
The SBR Agreement with DCSA codifies the standing Government Security Committee of TTM’s Board of Directors, consisting of at least 3 Board members that hold a National Security Clearance. In addition, the SBR dictates that TTM will maintain its policies and procedures that have been established pursuant to the provisions of the SSA to mitigate risks to TTM’s operations that serve the national security of the United States, including the maintenance of its cybersecurity plan that meets the requirements of NIST 800-171. DCSA will continue to review TTM’s compliance with the terms of the SBR annually at each of TTM’s sites which operate under a U.S. Department of Defense security clearance. This change acknowledges that TTM no longer has any significant foreign owners of its equity. In addition, all of TTM’s Board is currently comprised of U.S. citizens and per the terms of the SBR, no foreign citizen is allowed to sit on TTM’s Board in the future.
TTM expects the replacement of the SSA with the SBR to have no material impact on the company’s cost structure.
Share on:
Suggested Items
FTG Announces Q2 2025 Financial Results
07/09/2025 | Globe NewswireFiran Technology Group Corporation announced financial results for the second quarter 2025. Revenue: Recorded at $48.7 million, a 25.6% increase over Q2 2024.
Moog Announces Acquisition of COTSWORKS
07/07/2025 | BUSINESS WIREMoog Inc., a worldwide designer, manufacturer and systems integrator of high-performance precision motion and fluid controls and control systems, announced the acquisition of COTSWORKS Inc., an aerospace and defense fiber optics transceiver component manufacturer, for a purchase price of $63 million.
S&K Aerospace Awarded Major Contract Under DLA Maritime Acquisition Advancement Program
07/02/2025 | BUSINESS WIRES&K Aerospace, LLC has been awarded a significant contract under the Defense Logistics Agency’s (DLA) Maritime Acquisition Advancement Program, managed by the U.S. Naval Supply Command - Weapon Systems Support (NAVSUP WSS) in Mechanicsburg, PA.
Green Circuits to Exhibit Full-Service Electronics Manufacturing Solutions at 2025 SMD Symposium
07/02/2025 | Green CircuitsGreen Circuits, a full-service Electronics Manufacturing Services (EMS) partner to leading OEMs, is pleased to announce its participation in the 2025 SMD Symposium, taking place August 5-7 at the Von Braun Center in Huntsville, Alabama.
I-Connect007 Editor’s Choice: Five Must-Reads for the Week
06/27/2025 | Nolan Johnson, I-Connect007While news outside our industry keeps our attention occupied, the big news inside the industry is the rechristening of IPC as the Global Electronics Association. My must-reads begins with Marcy LaRont’s exclusive and informative interview with Dr. John Mitchell, president and CEO of the Global Electronics Association. For designers, have we finally reached the point in time where autorouters will fulfill their potential?