Free Magazine Subscription
Printer-friendly version
Email to a Friend
Network cable specialist Belden is hot on the acquisition trail. A deal to buy Germany’s Hirschmann Automation and Control GmbH (HAC) from European private equity investor HgCapital for some US$260 million in cash was quickly followed by announcement of the purchase of Hong Kong’s LTK Wiringfor $195 million.
HAC operates two production locations in Germany and three manufacturing joint ventures in China. In addition to its industrial Ethernet and connectivity product lines, HAC has a leading position in electronic control and safety systems for cranes and other load-bearing equipment. HAC had 2006 revenue of about $250 million. Following the acquisition, HAC will continue to be run by the current managing director,Reinhard Sitzmann
LTK Wiring, a subsidiary of LTK Industries Limited, is one of the largest manufacturers of electronic cable for the China market, with 2006 revenues of approximately $220 million.
“We are delighted to bring LTK Wiring, a company with an outstanding reputation for quality and innovation, into the Belden family,” said John Stroup, Belden CEO. “This acquisition propels us toward one of our stated objectives, expanding our presence in faster growing emerging markets. We are now positioned to better serve Belden’s Asia customers in networking, broadcasting, and industrial infrastructure.”
