SCHAFFHAUSEN, Switzerland, 30 Nov. 2011. Executives of rugged connector specialist TE Connectivity Ltd. (NYSE:TEL) in Schaffhausen, Switzerland, are seeking to boost their company's expertise in high-performance electrical connectors for use in harsh environments, such as aerospace and defense applications, with their pending acquisition of Deutsch Group SAS in New York. The acquisition sill be for 1.55 billion Euros, which is equal to $2.06 billion.
TE Connectivity has made a binding offer for Deutsch Group, which specializes in electrical and fiber-optic connectors for extreme environments such as high temperature, high altitudes, deep dives, shock, and vibration in space, Formula 1 race cars, aerospace, and military battlefield applications. The potential acquisition is expected to close by the end of June.
The acquisition will help TE Connectivity improve its connector products for applications in industrial transportation, industrial equipment, aerospace and defense, rail, and offshore oil and gas, says Tom Lynch, chief executive officer of TE Connectivity.
Deutsch has expertise in hermetics, filtering, high-speed precision machining, and composites. For more information contact TE Connectivity online at http://www.te.com/en/home.html, or Deutsch at www.deutsch.net.
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