Product category:
Cabling, Conduit, Accessories and Signal Conditioning
News Release from: Belden CDT Electronics
Edited by the Engineeringtalk Editorial
Team on 02 April 2007
Acquisition enhances industrial
connectivity
Belden has entered into a definitive agreement to purchase the assets of Lumberg Automation Components and related entities for an undisclosed cash price.
Belden has entered into a definitive agreement to purchase the assets of Lumberg Automation Components 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 US $75 million
This article was originally published on Engineeringtalk on 18 Nov 2005 at 8.00am (UK)
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Belden has expanded its line of IndustrialTuff variable frequency drive (VFD) cables, designed to carry power from AC drive systems to AC motors.
The company's product scope includes industrial connectors, high performance cordsets and fieldbus 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 customised 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 USA.
The companies expect the transaction to close during the second quarter.
Belden expects that the transaction will be accretive to 2007 earnings.
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