Bel Acquires Array Connector
August 21 2013 - 7:30AM
Business Wire
Bel Fuse Inc. (NASDAQ:BELFA) (NASDAQ:BELFB) announced
today that it has acquired privately-held Array Connector
Corporation, a manufacturer of aerospace and mil-spec connector
products for more than 20 years. Miami-based Array Connector had
revenue of approximately $10 million for 2012. The acquisition is
anticipated to be neutral to Bel's earnings this year and accretive
to earnings beginning in 2014.
"This is our fifth acquisition in the past 15 months, and the
third specifically targeted to support the growth of our Cinch
Connector division. With products including miniature 38999
connectors for military communications applications,
ARINC809/EN4165 connectors for in-flight entertainment
applications, and a line of filtered connectors primarily for
military/aerospace applications, the acquisition significantly
expands Cinch's product offerings. Array's modern machining and
molding facilities increase Cinch's production capacity, and the
acquisition also brings new customers, important intellectual
property, and strong engineering capabilities. Combined with our
recently announced joint venture with Radiall and our other recent
acquisitions, we believe this will substantially strengthen Cinch's
position as a first tier provider to domestic and international
aerospace, military and commercial customers," said Daniel
Bernstein, Bel's President and CEO.
About Bel
Bel (www.belfuse.com) and its divisions are primarily engaged in
the design, manufacture, and sale of products used in high-speed
data transmission, commercial aerospace, military, transportation,
and consumer electronics. Products include interconnect devices
(micro, circular and filtered D-Sub connectors, passive jacks,
plugs and high-speed cable assemblies), magnetics (discrete
components, power transformers and MagJack® connectors with
integrated magnetics), modules (DC-DC converters, integrated analog
front-end modules and custom designs), and circuit protection
(miniature, micro and surface mount fuses). The Company operates
facilities around the world.
Forward-Looking Statements
Except for historical information contained in this press
release, the matters discussed in this press release (including the
statements regarding the impact of the acquisition on earnings and
on the Company's business and regarding growth opportunities) are
forward looking statements that involve risks and uncertainties.
Among the factors that could cause actual results to differ
materially from such statements are: the market concerns facing our
customers; the continuing viability of sectors that rely on our
products; the effects of business and economic conditions; capacity
and supply constraints or difficulties; product development,
commercializing or technological difficulties; the regulatory and
trade environment; risks associated with foreign currencies;
uncertainties associated with legal proceedings; the market's
acceptance of the Company's new products and competitive responses
to those new products; the Company's ability to integrate newly
acquired businesses; and the risk factors detailed from time to
time in the Company's SEC reports. In light of the risks and
uncertainties, there can be no assurance that any forward-looking
statement will in fact prove to be correct. We undertake no
obligation to update or revise any forward-looking statements.
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