Connector manufacturer TE Connectivity Ltd. will acquire Xiamen SIBAS Connectors Co. and Xiamen Delixing Electric Equipment Co. Ltd of China.
Delixing/Sibas makes heavy duty connectors used in machinery equipment, factory automation, power management and railway applications. Delixing/Sibas posted $10 million in sales in 2013 and is based in Xiamen City in South Fujian, China.
The acquisition bolsters TE Connectivity’s range of products for harsh environmentapplications. The transaction is expected to close sometime in TE Connectivity’s2015 fiscal year which begins in October. Purchase price was not disclosed.
The Delixing/Sibas connector business will report to TE Connectivity’s Industrial Solutions segment.
“The acquisition of Delixing/Sibas positions TE to capitalize on revenue growth opportunities by increasing our market presence in China and by strengthening our position in harsh environment connectivity solutions,” said Thomas Schmidt, senior vice president and general manager, TE Industrial Equipment business unit. Headded by combining the capabilities and geographical reach of TE andDelixing/Sibas, TE Connectivity can offer customers some of the “mostcomprehensive products, technology and services within the industry.”
Qinghai Wu, general manager of Delixing/Sibas, said the acquisitionwill allow his company to “explore new opportunities presented by TE’s marketscale and reach outside China.”
TE Connectivity, based in Schauffhausen, Switzerland, has made strategic investments in China over the last 20 years, the company said. TE Connectivity has more than 15 manufacturing sites, four R&D centers and 18 sales offices in China.
TE’s revenue in China was $2.2 billion in fiscal 2013. The acquisition is part of TE’s long-term commitment to maintain its presence and local connectivity solutions in China, according to the company.
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