Bel Fuse Inc. Announces Plan to Purchase Transformer Business of Lucent Technologies.JERSEY CITY, N.J.--(BUSINESS WIRE)--Aug. 24, 1998--Bel Fuse Inc. (Nasdaq:BELFA) (Nasdaq:BELFB) Monday announced plans to purchase Lucent Technologies' signal transformer transformer, electrical device used to transfer an alternating current or voltage from one electric circuit to another by means of electromagnetic induction. business, a part of Lucent's Power Systems manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. . Bel will purchase Lucent's signal transformer business in a transaction that is planned to close by Sept. 30, 1998, subject to completion of definitive agreements and certain business conditions. Terms of the proposed agreement were not disclosed. "Lucent has established a leadership position as the premier provider of magnetics for telecommunications and power applications," said Daniel Bernstein, president of Bel. "This acquisition will allow us to expand our product portfolio for telecom OEMs and build upon the reliability and quality leadership that customers of Bel and Lucent have come to expect." Lucent's signal transformer business manufactures xDSL, ISDN ISDN in full Integrated Services Digital Network Digital telecommunications network that operates over standard copper telephone wires or other media. , modem, broadband and power magnetic components for both original- equipment manufacturers (OEMs) and Lucent customers. These products are manufactured primarily in Matamoros, Mexico. "Lucent's long-term strategic focus in the Power Systems business is on the growing power-supplies and power-systems solutions markets," said Bruce Brock brock n. Chiefly British A badger. [Middle English brok, from Old English broc, of Celtic origin.] , chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Lucent's Power Systems business. "We are pleased that Bel, a company that specializes in LAN (Local Area Network) A communications network that serves users within a confined geographical area. The "clients" are the user's workstations typically running Windows, although Mac and Linux clients are also used. and telecom magnetics, has emerged as the buyer for this business. We are confident that they will provide our customers with the same quality and competitively priced products that our customers have come to expect from Lucent." Through a joint transition team, Bel and Lucent plan to work closely together during an expected six-month transition to support new and established customers. Lucent Technologies, with headquarters in Murray Hill Murray Hill may refer to one of the following places:
Bel (http://www.belfuse.com) and its subsidiaries are engaged primarily in the design, manufacture and sale of products used in networking, telecommunications, high-speed data transmission, automotive and consumer electronics. Products include magnetics for the LAN and telecom markets, fuses, delay lines and thick film hybrids. The company operates facilities around the world. Except for historical information contained in this news release, the matters discussed are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions; the impact of competitive products and pricing; capacity and supply constraints or difficulties; product development, commercializing or technological difficulties; the regulatory and trade environment; and the risk factors from time to time in the company's Securities and Exchange Commission reports.
CONTACT: Bel Fuse Inc., Jersey City
Dan Bernstein, 201/432-0463
or
Neil G. Berkman Associates, Los Angeles
310/277-5162
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