Molex Expands Offerings for Medical & Industrial Markets With Agreement to Acquire FCT Electronics G
Molex Expands Offerings for Medical & Industrial Markets With Agreement to Acquire FCT Electronics Group
LISLE, Ill.--(BUSINESS WIRE)-- Molex Incorporated (NASDAQ: MOLX, MOLXA), a global electronics components company, announced today it has signed definitive agreements to acquire FCT Electronics Group, based in Munich, Germany. FCT Electronics Group specializes in designing and manufacturing custom mixed-layout connectors and cable assemblies. According to Tim Ruff, Molex senior vice president of business development and corporate strategy, this is a strategic acquisition that will help expand Molex's presence in the global medical electronics, industrial, telecom and aerospace markets.
"FCT Electronics Group is a great fit for Molex because it expands our ability to provide customized connector and cable assembly solutions across a broad range of end markets," Ruff said. "FCT Electronics Group is well known for its technology and service as well as the depth and breadth of its product offering. It has a long history of success because of its excellent team of talented, experienced professionals with deep customer relationships across many markets."
Toni Kling, FCT Electronics Group founder and CEO, thinks that Molex's global sales and distribution reach will give both companies the opportunity for faster growth.
"We offer specialized connectors and cable assembly solutions for our customers," he said. "With Molex's global sales and marketing team, we expect to significantly increase our market reach in both new geographies and markets."
Dan Schreck, FCT Electronics Group co-owner and president, agrees. "We are very excited to join forces with Molex," Schreck said. "Molex has a reputation in our industry as a preeminent, blue chip manufacturer of the highest quality interconnect products. Combining Molex's resources and FCT's unique position in several exciting, emerging markets will benefit our customers and employees."
About FCT Electronics Group
FCT Electronics Group was founded in 1972. It has manufacturing operations in Germany, the Czech Republic, Thailand and the United States.
The transaction remains subject to governmental approval and is expected to close in the third quarter of calendar year 2013.
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, medical, military, lighting and solar. Established in 1938, the company operates 41 manufacturing locations in 15 countries.
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.
Molex is a registered trademark of Molex Incorporated.
Investor Contact: Steve Martens
Vice President, Investor Relations
Editorial Contact: Susan Armitage
Vice President, Corporate Communications
KEYWORDS: United States Europe North America Illinois Germany
The article Molex Expands Offerings for Medical & Industrial Markets With Agreement to Acquire FCT Electronics Group originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.