Belden Completes Acquisition of HirschmannMarch 28, 2007
The addition of industrial connectivity and Industrial Ethernet to its portfolio positions Belden to provide complete signal transmission solutions for the industrial market.
ST. LOUIS, MO /PRNewswire-FirstCall/ -- Belden (NYSE:BDC) , a world leader in the development of signal transmission solutions, has completed the acquisition of Hirschmann Automation and Control GmbH (together with certain affiliates "HAC") for a cash price of approximately $260 million. HAC is a leading supplier of Industrial Ethernet solutions and industrial connectivity with 2006 revenues of approximately $250 million.
"HAC is the global market share leader for rail-mounted Industrial Ethernet switches and a leading provider of industrial connectivity," said John Stroup, President and Chief Executive Officer of Belden. "By combining HAC's capabilities with Belden's expertise in signal transmission, we can deliver networking solutions for the most demanding industrial environments and large-scale infrastructure projects worldwide. This acquisition positions Belden uniquely to serve customers who desire to integrate their industrial networks with their enterprise networks."
He continued: "To complement HAC's strength in the key German market for industrial automation equipment, we will move quickly to increase HAC's presence in North America and Asia. Longer term, our integration process will address greater product and commercial integration. The strength of our combined brands in the industrial connectivity market will be unsurpassed."
HAC has its headquarters in Neckartenzlingen, Germany, 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 employs 750 associates.
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 Web site.
About Hirschmann Automation and Control GmbH
As specialists in automation technology, Hirschmann Automation and Control GmbH (HAC) supplies complete and integrated infrastructures for companywide data communication. The product range extends from network components for Ethernet, Fast Ethernet and Gigabit Ethernet through fiber interfaces for different fieldbus systems down to electrical connectors for actuators and sensors. HAC also provides electronic control systems for load indication and load moment limitation. For additional information visit the HAC Web site.
CONTACT: Dee Johnson, Belden, +1-314-854-8054
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