Belden to Acquire Thomas & Betts

  • December 01, 2010
  • Belden
  • News
December 1, 2010 - Belden will acquire the Thomas & Betts Communications Products Business for $78 million in cash.This acquisition will further strengthen Belden's position as an end-to-end solution provider within the broadband/CATV, security, and audio/video markets. This business includes Snap-N-Seal drop connectors, LRC hardline connectors, Diamond hardware & grounding products, and telecom enclosures & connectors, including the Kold-N-Klose enclosure system. By adding these established brands and market-leading Radio Frequency (RF) connectors to its extensive portfolio of audio, video and security cables, Belden will expand its end-to-end solution offering and leverage its existing channels."The Thomas & Betts Communications Products Business has an experienced management team, recognized brands, plus a reputation for superior product quality, innovation, and best-in-class manufacturing capabilities," said John Stroup, President and CEO of Belden Inc. "We intend to invest in the business to leverage these proven strengths and expand our combined presence in core markets within North America, as well as other geographies where we already have commercial infrastructure in place."The acquisition is subject to regulatory review under the Hart-Scott-Rodino Antitrust Improvement Act and is expected to be completed by calendar year-end 2010. Belden will fund the purchase price with cash on hand. Belden expects the business will contribute $0.05 in income from continuing operations per diluted share in fiscal year 2011.About BeldenSt. Louis-based Belden designs, manufactures, and markets cable, connectivity, and networking products in markets including industrial automation, enterprise, transportation, infrastructure, and consumer electronics. It has approximately 6,900 employees, and provides value for industrial automation, enterprise, education, healthcare, entertainment and broadcast, sound and security, transportation, infrastructure, consumer electronics and other industries. Belden has manufacturing capabilities in North America, Europe, and Asia, and a market presence in nearly every region of the world. Belden was founded in 1902, and today is a leader with some of the strongest brands in the signal transmission industry. About Thomas & BettsThomas & Betts Corporation (NYSE:TNB) is a global leader in the design, manufacture and marketing of essential components used to manage the connection, distribution, transmission and reliability of electrical power in industrial, construction and utility applications. With a portfolio of over 200,000 products marketed under more than 45 premium brand names, Thomas & Betts products are found wherever electricity is used. Headquartered in Memphis, Tenn., Thomas & Betts reported revenues of $1.9 billion and had approximately 8,500 employees in 2009. Learn More

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