Molex completes Cinch acquisition

Edited by the Electronicstalk editorial team Apr 16, 2004

Molex has completed its previously announced transaction to acquire the automotive and specialty connectors business of Connecteurs Cinch.

Molex has completed its previously announced transaction to acquire the automotive and specialty connectors business of Connecteurs Cinch, an affiliate of Snecma, the French aerospace group.

The closing of the transaction has taken place with respect to Cinch's operations and facilities located in France and Portugal, which represent all of Cinch's connector activities in Europe, and are its principal operations and facilities worldwide.

Transaction closings with respect to Cinch's facilities located in India and China will take place as soon as certain governmental approvals have been obtained in such countries and are expected to take place in the next quarter.

Terms of the transaction were not disclosed.

According to Joe King, Vice Chairman and Chief Executive Officer of Molex, this is a strategic acquisition that will help Molex boost its share of the market for automotive connectors in Europe.

"There is a good fit between the products and technology of Connecteurs Cinch and Molex's European Automotive Division", King said.

"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".