Belden Agrees to Acquire Lumberg Automation Components GmbH
With this acquisition Belden expands its position as a global industrial connectivity solutions provider for factory automation
ST. LOUIS, March 28 / -- Belden (NYSE:BDC), a world leader in the development of signal transmission solutions, has entered into a definitive agreement to purchase the assets of Lumberg Automation Components GmbH and related entities for an undisclosed cash price. Lumberg is a leading supplier of industrial connectivity products for factory automation machinery with 2006 revenues of approximately $75 million. The company's product scope includes industrial connectors, high performance cord-sets and field bus communication components.
"Lumberg Automation has built an extremely strong brand over its 70-year history and has established itself as an innovator in industrial connectivity for factory automation," said John Stroup, President and Chief Executive Officer of Belden. "They have a strong market position with leading German equipment OEMs and provide both standard and customized solutions to meet the connectivity requirements of a wide range of industrial customers. We believe the addition of Lumberg Automation will complement the industrial connectivity portfolio of the recently acquired Hirschmann Automation and Control and reinforce Belden's leadership in the industrial market. With Belden's expanding global reach and this strong portfolio, we expect to accelerate our revenue growth in the industrial market."
Lumberg Automation is headquartered in Schalksmuhle, Germany and has production facilities in Germany and the United States. The companies expect the transaction to close during the second quarter. Belden anticipates that the transaction will be accretive to 2007 earnings.
About Belden
Belden is a leader in the design, manufacture, and marketing of signal transmission products for data networking and a wide range of specialty electronics markets including entertainment, industrial, security and aerospace applications. To obtain additional information contact Investor Relations at 314-854-8054, or visit our website at http://www.belden.com/.
About Lumberg Automation Components GmbH
Lumberg Automation Components GmbH supplies the industrial sector with automation technology featuring intelligent wiring components such as connector assemblies and distribution systems as well as fieldbus components. Lumberg Automation is owned by The Lumberg Group, a family-owned, globally acting company that originated in Schalksmuhle, Germany, with core competencies in the development, manufacturing and sales of electromechanical and electronic components. For more information, visit http://www.lumberg.com/
Source: Belden
CONTACT:Dee Johnson of Belden, +1-314-854-8054
Web site: http://www.belden.com/
http://www.lumberg.com/
