Molex Expands Offerings for Medical Markets With Investment in Vasa Applied Technologies
LISLE, Ill.--(BUSINESS WIRE)-- Molex Incorporated (NAS: MOLX) (NAS: MOLXA) , a global electronics components company, announced today it has signed definitive agreements as a strategic partner and investor in Vasa Applied Technologies Ltd., based in Or Yehuda, Israel. Vasa is a start-up that has developed an innovative, patent-pending technology that allows accurate measurements of fluid flow rates and initial designs will be targeting medical applications.
"This partnership with Vasa is a great fit for Molex because it expands our ability to provide medical device and sensor solutions," said Tim Ruff, senior vice president of business development and corporate strategy, Molex. "Vasa has developed a unique product that addresses urgent clinical needs. We expect this technology to have many more applications beyond medical markets when combined with Molex's engineering talents."
"We are very excited to join forces with Molex," said Jacob Polger, Vasa's co-founder and chief executive officer. "With Molex's global sales force and engineering capabilities, we expect to significantly increase our technology reach in new geographies and markets."
About Molex Incorporated
Providing more than connectors, Molex delivers complete interconnect solutions for a number of markets including: data communications, telecommunications, consumer electronics, industrial, automotive, commercial vehicle, aerospace and defense, medical and lighting. Established in 1938, the company operates 41 manufacturing locations in 15 countries. The Molex website is www.molex.com. Follow us at www.twitter.com/molexconnectors, watch our videos at www.youtube.com/molexconnectors, connect with us at www.facebook.com/molexconnectors and read our blog at www.connector.com.
About Vasa Applied Technologies Ltd.
Vasa Applied Technologies Ltd. was established in 2009. It is an Israeli start-up company that has developed an innovative, patent-pending technology that allows accurate measurements of pulsating, low flow rates.
Statements in this release that are not historical are forward-looking and are subject to various risks and uncertainties that could cause actual results to vary materially from those stated.Words such as "expect," "anticipate," "outlook," "forecast," "could," "project," "intend," "plan," "continue," "believe," "seek," "estimate," "should," "may," "assume," "potential," variations of such words and similar expressions are intended to identify such forward-looking statements.Forward-looking statements are based on currently available information and include, among others, the discussion under "Outlook."These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Respective risks, uncertainties, and assumptions that could affect the outcome or results of operations are described in Part 1, Item 1A of our Annual Report on Form 10-K for the year ended June 30, 2012 and the Form 10-Q for the quarters ended September 30, 2012, December 31, 2012 and March 31, 2013, which are incorporated by reference and in other reports that Molex files or furnishes with the Securities and Exchange Commission.
We have based our forward-looking statements on our management's beliefs and assumptions based on information available to management at the time the statements are made. We caution you that actual outcomes and results may differ materially from what is expressed, implied, or forecast by our forward-looking statements. Reference is made in particular to forward-looking statements regarding growth strategies, industry trends, global economic conditions, success of customers, cost of raw materials, value of inventory, currency exchange rates, labor costs, protection of intellectual property, cost reduction initiatives, acquisition synergies, manufacturing strategies, product development introduction and sales, regulatory changes, competitive strengths, natural disasters, unauthorized access to data, government investigations and outcomes of legal proceedings. Except as required under the federal securities laws, we do not have any intention or obligation to update publicly any forward-looking statements after the distribution of this report, whether as a result of new information, future events, changes in assumptions, or otherwise.
Steve Martens, 630-527-4344 (Investors)
Vice President, Investor Relations
Susan Armitage, 630-527-4561 (Editors)
Vice President, Corporate Communications
KEYWORDS: United States North America Illinois Middle East Israel
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