C&D Technologies Completes Sale of Power Electronics Division to Murata Manufacturing Co., Ltd. |
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C&D Technologies, Inc.
3400 E. Britannia Drive
Tucson, AZ, 85706
USA
Press release date: August 31, 2007
BLUE BELL, Pa., Aug. 31 -- C&D Technologies (NYSE:CHP) today announced the completion of the sale of its Power Electronics Division (PED) to Murata Manufacturing Co., Ltd. of Japan (Murata) for $85 million cash, subject to working capital adjustments. The agreement to sell this business was previously announced on June 19, 2007.
Murata is one of the world's leading providers of ceramic-based components, sensors and integrated electronic modules, including power supplies. The Company, headquartered in Kyoto, Japan, has over 30,000 employees worldwide and over $4 billion in annual sales.
About C&D Technologies C&D Technologies, Inc. provides solutions and services for the switchgear and control (utility), motive (material handling), telecommunications, and uninterruptible power supply (UPS) as well as emerging markets such as solar power. C&D Technologies engineers, manufactures, sells and services fully integrated reserve power systems for regulating and monitoring power flow and providing backup power in the event of primary power loss until the primary source can be restored. C&D Technologies' unique ability to offer complete systems, designed and produced to high technical standards, sets it apart from its competition. C&D Technologies is headquartered in Blue Bell, PA. For more information about C&D Technologies, visit http://www.cdtechno.com/
Source: C&D Technologies, Inc.
CONTACT: Ian Harvie of C&D, +1-215-619-7835;
Web site: http://www.cdtechno.com/
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