Methode Electronics, Inc. Acquires Power Connector Business
March 12 2008 - 4:00PM
Business Wire
Methode Electronics, Inc. (NYSE: MEI), a global manufacturer of
electronic components and subsystem devices, recently announced
that it has acquired the business assets of Tribotek, Inc., a
Burlington, Mass.-based technology company. Tribotek designs,
develops and manufactures high current power connectors and power
distribution systems for products such as power supplies, servers,
rectifiers, inverters, robotics and automated test equipment, in
addition to various military and telecommunications applications.
Tribotek�s patented technology power connectors yield lower
insertion force and lower voltage drop at the connection point. In
addition, its power connectors also reliably handle a greater
number of plug and unplug occurrences. The company will be
integrated into Methode�s Cableco Technologies business, enabling
Methode to offer a more complete range of power distribution
solutions and continue the evolution of its capabilities. �Through
the Tribotek acquisition, Methode has expanded its power connection
systems and is now able to offer our customers a much broader range
of power distribution products and solutions,� said Chip Bronk,
General Manager, Methode�s Cableco Technologies. �Tribotek�s
advanced technology directly complements our existing Cableco
offerings and extends our reach by providing a very robust power
interconnect product line. This move will enable us to offer more
customized solutions to better support our customers� increasingly
complex power distribution needs. We are excited about the
possibilities the acquisition holds for our current and future
customers.� �The Tribotek acquisition is yet another example of our
commitment to growing the Power Distribution segment and offering
more complete solutions to our valued customers,� said David
Ciembronowicz, Director of Sales & Marketing, Methode
Electronics. �We believe the acquisition will create new
opportunities for growth and help us move from being a discrete
components supplier to becoming a manufacturer of total product
solutions.� In addition to providing Methode with an established
product in the power connector market � helping to complete the
link to printed circuit boards, cables and busbars � the Tribotek
acquisition will also help Methode advance its busbar product line.
Moving forward, Methode will be able to design busbars that are
more technically advanced and efficient; providing our customers
with more highly customized, higher value solutions across a wide
range of industries � from military/defense to robotics to
computer/server systems. Methode anticipates that Tribotek will be
fully integrated into its Cableco business by the end of April
2008. For more information, please contact: Cableco
Technologies�Corporation 1750 Junction Ave. San Jose, CA 95112
Phone: 408-453-9500 Fax: 408-943-6655 E-mail: sales@cablecotech.com
Web: www.cablecotech.com About Cableco Technologies Corporation
Cableco Technologies Corporation�is a major manufacturer of cable,
interconnection and custom engineered products designed for
high-current power distribution solutions for computer, computer
peripheral, office automation, instrumentation, telecommunication,
medical, industrial and military applications. In addition to its
custom solution capabilities, Cableco serves its markets with a
broad line of products that includes the highly flexible
PowerFlexTM cable, the Power SwivelNutTM rotating threaded nut for
stranded wire cable termination, the cost effective PowerPathTM
power distribution cable system, and the PowerRailTM pluggable rail
power distribution system. Cableco has design and manufacturing
capabilities in San Jose, CA and Reynosa, Mexico. About Methode
Electronics Methode Electronics, Inc. (NYSE: MEI) is a global
manufacturer of component and subsystem devices with manufacturing,
design and testing facilities in the United States, Malta, Mexico,
United Kingdom, Germany, Czech Republic, China and Singapore. We
design, manufacture and market devices employing electrical,
electronic, wireless, sensing and optical technologies to control
and convey signals through sensors, interconnections and controls.
Our business is managed on a segment basis, with those segments
being Automotive, Interconnect, Power Distribution and Other. Our
components are in the primary end markets of the automobile,
computer, information processing and networking equipment, voice
and data communication systems, consumer electronics, appliances,
aerospace vehicles and industrial equipment industries. Further
information can be found on Methode's Web site www.methode.com.
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