Belden Acquires Poliron in Brazil
ST. LOUIS, April 4, 2011 -- Belden Inc. (NYSE: BDC), a global leader in signal transmission solutions for mission critical applications, today announced it has completed the acquisition of Poliron Cabos Eletricos Especiais Ltda, a leading Brazilian cable company, in an all cash transaction valued at approximately $30 million.
Privately held Poliron has an established brand reputation and proven experience for product quality across one of the most complete lines of industrial cables in the region. In addition, Belden intends to leverage Poliron's manufacturing footprint to improve our cost and lead-times for our existing products purchased in Brazil and other countries in the region.
"This acquisition allows us to be a legitimate player in one of the more attractive emerging markets," said John Stroup, President and Chief Executive Officer of Belden Inc. "In addition to the long-term growth opportunities, we are excited to participate in the near term investments in support of the 2014 FIFA World Cup and 2016 Summer Olympic Games."
Belden funded the acquisition with cash on hand and expects the acquisition to be break-even in fiscal year 2011.
St. Louis-based Belden Inc. designs, manufactures, and markets cable, connectivity, and networking products in markets including industrial automation, enterprise, transportation, infrastructure, and consumer electronics. It has approximately 6,600 employees, and provides value for industrial automation, enterprise, education, healthcare, entertainment and broadcast, sound and security, transportation, infrastructure, consumer electronics and other industries. Belden has manufacturing capabilities in North America, Europe, and Asia, and a market presence in nearly every region of the world. Belden was founded in 1902, and today is a leader with some of the strongest brands in the signal transmission industry. For more information, visit www.belden.com.