Littelfuse to Acquire the Gas Discharge Tube Assets of SRC Devices, Inc.DES PLAINES Des Plaines, city, United States Des Plaines (dĕs plānz), city (1990 pop. 53,223), Cook co., NE Ill., a suburb of Chicago on the Des Plaines River; inc. 1925. Among its manufactures are chemicals and electronic equipment. , Ill. -- Littelfuse, Inc. (NASDAQ/NGS:LFUS) today announced it has acquired the gas discharge Gas discharge A system made up of a gas, electrodes, and an enclosing wall in which an electric current is carried by charged particles in response to an electric field, the gradient of the electric potential, or the voltage between two surfaces. tube (GDT GDT Global Descriptor Table GDT Geographic Data Technology Inc. GDT Gas Discharge Tube (energy, electrotechinical and electronics) GDT Getting Things Done GDT Geometric Dimensioning & Tolerancing GDT Ground Data Terminal ) assets of SRC (SouRCe) Contrast with DST, which is an abbreviation of "destination." Devices, Inc., for $6 million in cash, subject to post-closing purchase price adjustments. Headquartered in La Jolla La Jolla (lə hoi`yə), on the Pacific Ocean, S Calif., an uninc. district within the confines of San Diego; founded 1869. The beautiful ocean beaches, in particular La Jolla shores and Black's Beach, and sea-washed caves attract visitors and , Calif. with a manufacturing facility in Guadalajara, Mexico, SRC Devices is a leader in the design and manufacture of gas discharge tubes, high-quality reed switches and reed relays. The acquisition is expected to be neutral to Littelfuse earnings in 2006. "This is a strategic step that broadens our GDT product line and brings new customers to Littelfuse. The acquisition gives Littelfuse a strong base in industrial applications for the GDT products and further enhances our already solid position in the telecom market," said David Samyn, Vice President and General Manager of Littelfuse's Electronics Business Unit. "We plan to move production of the GDT product line from the SRC manufacturing facility in Mexico to our existing operation in Suzhou, China. Consolidating production of the GDT line at one facility will enable us to reduce costs and further leverage our existing capabilities in China," said Samyn. About Littelfuse As the worldwide leader in circuit protection products and solutions with annual sales of $467.1 million in 2005, the Littelfuse portfolio is backed by industry leading technical support, design and manufacturing expertise. Littelfuse products are vital components in virtually every product that uses electrical energy, including automobiles, computers, consumer electronics, handheld devices, industrial equipment, and telecom/datacom circuits. Littelfuse offers Teccor(R), Wickmann(R) and Pudenz(R) brand circuit protection products. In addition to its Des Plaines, Illinois “Des Plaines” redirects here. For the river, see Des Plaines River. Des Plaines (pronounced IPA [dɛsˈpleɪnz]) is a city in Cook County, Illinois, United States. , world headquarters, Littelfuse has sales, distribution, manufacturing and engineering facilities in Brazil, China, England, Germany, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , India, Ireland, Japan, Korea, Mexico, the Netherlands, the Philippines, Singapore, Taiwan and the U.S. For more information, please visit Littelfuse's web site at www.littelfuse.com. About SRC Devices, Inc. SRC Devices, Inc. is a leading manufacturer of reed switches, reed relays and gas discharge tubes. SRC Devices was formed by the acquisition of the dry reed switch organization from Clare Inc. in 2001, in combination with the existing reed relay and gas discharge tube surge product lines acquired from Sumida America Corporation. For more information please visit the SRC Devices web site at www.srcdevices.com. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Any forward looking statements contained herein involve risks and uncertainties, including, but not limited to, product demand and market acceptance risks, the effect of economic conditions, the impact of competitive products and pricing, product development and patent protection, commercialization and technological difficulties, capacity and supply constraints or difficulties, exchange rate fluctuations, actual purchases under agreements, the effect of the company's accounting policies, labor disputes, restructuring costs in excess of expectations and other risks which may be detailed in the company's Securities and Exchange Commission filings. |
|
||||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion