TTM Technologies announces SBR to codify Government Security Committee

TTM Technologies announced that pending confirmation by the Defense Counterintelligence and Security Agency, or DCSA, the TTM board of directors has adopted a special board resolution, or SBR, replacing the special security agreement, or 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 2. 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.