CP Clare acquires wetted reed switch business of NEC.Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CPCL CPCL Chennai Petroleum Corporation Limited CPCL Computer Program Change Library CPCL Computer Program Control Library CPCL Component Prioritized Collection List ) a recognized world leader in the semiconductor and electromagnetic relay marketplace, announced today is has completed the acquisition of the wetted reed switch The reed switch is an electrical switch operated by an applied magnetic field. It was invented at Bell Telephone Laboratories in 1936 by W. B. Elwood. It consists of a pair of contacts on ferrous metal reeds in a hermetically sealed glass envelope. business of NEC (NEC Corporation, Tokyo, www.nec.com, www.necus.com) An electronics conglomerate known in the U.S. for its monitors. In Japan, it had the lion's share of the PC market until the late 1990s (see PC 98). NEC was founded in Tokyo in 1899 as Nippon Electric Company, Ltd. , Japan in an asset purchase. "This acquisition typifies CLARE's acquisition strategy to only acquire products, technologies or market entree into areas which will give us additional growth opportunities," stated Arthur R. Buckland, President and Chief Executive Officer. "CLARE is the dominant player in high performance wetted reed relays As a relay is a switch controlled by an electromagnet, so a reed relay is one or more reed switches controlled by an electromagnet. The contacts are of magnetic material; thus the electromagnet acts directly on them rather than requiring an armature to move them. . Concurrent with this acquisition we are opening a branch office in Tokyo which will provide us with immediate entry into the Japanese marketplace and the ability to aggressively service our growing Japanese customer base." -0- CP Clare Corporation is a leading provider of semiconductor and electromagnetic relays, switches, and specialized electronic components to the world's foremost manufacturers of electronic equipment. CONTACT: Linda J. Sadowski CP Clare (617) 863-8700 ext. 750 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion