MORTON, IL -- Preco Electronics Inc. has completed the sale of its manufacturing operation to Vansco Electronics, a Canadian EMS firm.

The Preco plant designs and manufactures electronics systems and components for heavy equipment.

The acquisiton gives Winnipeg, Canada-based Vansco a U.S. footprint, and the company is looking for more acquisitons of electronic controls makers. 

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ST. LOUIS -- LaBarge Inc. has been awarded a multi-year, $24 million contract by Raytheon Missile Systems to provide cables and harnesses for the Joint Standoff Weapon system.

The impact on 2005 revenues is expected to be $1.65 million, LaBarge said.

The contract has an estimated value of $24 million through 2012.

Work will be performed at LaBarge's Joplin, MO, facility. LaBarge is a contract electronics assembler.

The Navy uses JSOW in its fighter jets as a glide weapon. It uses GPS information to find its target.

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SAN FRANCISCO -- Predicted growth rates for IT are at their lowest point since November 2003, according to the latest poll of the nation's CIOs. 

Spending growth rates for the next 12 months fell to 4.8% in May, down from 7.9% last month, according to the monthly poll taken by CIO magazine. Spending projections in all categories fell month-over-month, except outsourced IT services. 

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