SCHAFFHAUSEN, Switzerland, June 17,
2022 /PRNewswire/ -- TE Connectivity Ltd. (NYSE:
TEL), a global leader in connectors and sensors, announced that its
board of directors has authorized an increase in its share
repurchase program by an additional $1.5
billion. Any repurchases by the company will be made in
accordance with applicable securities laws in the open market or in
private transactions. The repurchase program is subject to business
and market conditions, and may be commenced, suspended or
discontinued at any time or from time to time without prior
notice.
ABOUT TE CONNECTIVITY
TE Connectivity Ltd. (NYSE: TEL)
is a global industrial technology leader creating a safer,
sustainable, productive, and connected future. Our broad range of
connectivity and sensor solutions, proven in the harshest
environments, enable advancements in transportation, industrial
applications, medical technology, energy, data communications, and
the home. With more than 85,000 employees, including over 8,000
engineers, working alongside customers in approximately 140
countries, TE ensures that EVERY CONNECTION COUNTS. Learn more at
www.te.com and on LinkedIn, Facebook, WeChat and
Twitter.
Forward-Looking Statements
This release contains
certain "forward-looking statements" within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995. These statements
are based on management's current expectations and are subject to
risks, uncertainty and changes in circumstances, which may cause
actual results, performance, financial condition or achievements to
differ materially from anticipated results, performance, financial
condition or achievements. All statements contained herein that are
not clearly historical in nature are forward-looking and the words
"anticipate," "believe," "expect," "estimate," "plan," and similar
expressions are generally intended to identify forward-looking
statements. We have no intention and are under no obligation to
update or alter (and expressly disclaim any such intention or
obligation to do so) our forward-looking statements whether as a
result of new information, future events or otherwise, except to
the extent required by law. The forward-looking statements in this
release include statements addressing our future financial
condition and operating results, and the impact on our operations
resulting from the coronavirus disease 2019 ("COVID-19"). Examples
of factors that could cause actual results to differ materially
from those described in the forward-looking statements include,
among others, the extent, severity and duration of COVID-19
negatively affecting our business operations; business, economic,
competitive and regulatory risks, such as conditions affecting
demand for products in the automotive and other industries we
serve; competition and pricing pressure; fluctuations in foreign
currency exchange rates and commodity prices; natural disasters and
political, economic and military instability in countries in which
we operate, including continuing military conflict between
Russia and Ukraine resulting from Russia's invasion of Ukraine or escalating tensions in surrounding
countries; developments in the credit markets; future goodwill
impairment; compliance with current and future environmental and
other laws and regulations; and the possible effects on us of
changes in tax laws, tax treaties and other legislation, including
the effects of Swiss tax reform. In addition, the extent to which
COVID-19 will impact our business and our financial results will
depend on future developments, which are highly uncertain and
cannot be predicted. Such developments may include the geographic
spread of the virus, the severity of the virus, the duration of the
outbreak, the impact on our suppliers' and customers' supply
chains, the actions that may be taken by various governmental
authorities in response to the outbreak in jurisdictions in which
we operate, and the possible impact on the global economy and local
economies in which we operate. More detailed information about
these and other factors is set forth in TE Connectivity Ltd.'s
Annual Report on Form 10-K for the fiscal year ended Sept. 24, 2021 as well as in our Quarterly
Reports on Form 10-Q, Current Reports on Form 8-K and other reports
filed by us with the U.S. Securities and Exchange Commission.
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SOURCE TE Connectivity Ltd.