Molex acquires Connecteurs Cinch’s connectors business
Lisle, IL—Molex Inc. reports that it has successfully completed its acquisition of the automotive and specialty connectors business of Connecteurs Cinch SA, an affiliate of SNECMA, the France-based aerospace group.
Lisle, IL— Molex Inc. reports that it has successfully completed its acquisition of the automotive and specialty connectors business of Connecteurs Cinch SA, an affiliate of SNECMA, the France-based aerospace group.
The transaction has closed with respect to Cinch's operations and facilities in Europe. However, completion of the transaction with respect to Cinch's other facilities, located in India and China, will take place as soon as certain governmental approvals are obtained in those countries. These approvals are expected to take place in the third quarter of 2004. Terms of the overall transaction were not disclosed.
Joe King, Molex’s vice chairman and CEO, reports that acquiring Connecteurs Cinch will help Molex boost its share of the automotive connectors market in Europe. 'There is a good fit between the products and technology of Connecteurs Cinch and Molex's European Automotive Division,' says King. 'Major global automotive manufacturers demand strong, established suppliers who can meet a full range of connector needs. This gives us an excellent opportunity to strengthen our growing position in this industry.'
Molex is a 65-year-old manufacturer of electronic, electrical and fiber-optic interconnection products and systems; switches; value-added assemblies; and application tooling. The company operates 58 manufacturing facilities in 19 countries, and employs approximately 17,275 people.
Control Engineering Daily News Desk
Jim Montague, news editor