Bel Acquires Fibreco Limited
August 01 2012 - 8:30AM
Business Wire
Bel Fuse Inc. (NASDAQ:BELFA) (NASDAQ:BELFB) announced
today that it has closed the acquisition of Fibreco Limited, Great
Dunmow, England, a supplier of expanded beam fiber optic components
for applications in military and broadcast communications and
offshore energy exploration. Terms of the acquisition were not
disclosed.
"We expect the acquisition of Fibreco to be immediately
accretive to Bel's earnings," said Daniel Bernstein, Bel's
President and CEO. "This is the latest step in our strategy to
focus on high value added, non-commodity components. Fibreco, which
had trailing twelve month revenue of approximately $7 million, will
join Gigacom Interconnect AB, which we acquired in March 2012, as
part of Bel's Cinch Connectors business. Fibreco's fiber
optic-based products complement Cinch's copper-based products,
increasing Cinch's reach into aerospace, military, and industrial
markets, while providing Fibreco with access to well-established
sales channels it had not previously explored. The combination of
Fibreco's broad range of expanded beam fiber-based connector and
cable products and Gigacom's expanded beam EBOSATM technology
creates an exciting new growth opportunity for our company."
Stephens Inc. acted as financial advisor to Bel in this
transaction.
About Bel
Bel (www.belfuse.com) and its divisions are primarily engaged in
the design, manufacture, and sale of products used in networking,
telecommunications, high-speed data transmission, commercial
aerospace, military, transportation, and consumer electronics.
Products include magnetics (discrete components, power transformers
and MagJack® connectors with integrated magnetics), modules (DC-DC
converters, integrated analog front-end modules and custom
designs), circuit protection (miniature, micro and surface mount
fuses) and interconnect devices (micro, circular and filtered D-Sub
connectors, passive jacks, plugs and high-speed cable assemblies).
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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