Thomas & Betts to acquire PMA for €85 million
Friday, Feb 26, 2010
Thomas & Betts, a US-based manufacturer of electrical components, is paying €85m to acquire PMA, a polyamide cable duct extruder based in Zurich, Switzerland.
“PMA’s strong relationships with manufacturers and distributors throughout Europe, the Middle East and Asia will extend our access to several key – and growing – industrial markets,” says Dominic J Pileggi, chairman and CEO of Thomas & Betts. “Likewise, T&B’s leadership position in North America offers an opportunity to grow PMA’s presence in these markets.”
PMA produces PA-based flexible conduit and fittings used in industrial applications to protect energy and data cables from external forces such as vibration, heat, fire, cold and tensile stress. It supplies systems to the rail car manufacturing and machine building industries and has a growing presence in mining and infrastructure projects. The company posted sales of approximately €33m last year.
The deal is expected to close within the next 60 days.
Source: European Plastics
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