Product category:
Cables and Wires
News Release from: Belden CDT (cables)
Edited by the Electronicstalk Editorial
Team on 09 February 2007
Belden buys LTK Wiring
Belden has entered into a definitive agreement to purchase LTK Wiring of Hong Kong for US $195 million.
Belden, a provider of signal transmission systems for data networking and electronics, has entered into a definitive agreement to purchase LTK Wiring Co, a Hong Kong company, in an all-cash transaction for approximately $195 million LTK Wiring, a subsidiary of LTK Industries, is one of the largest manufacturers of electronic cable for the China market, with 2006 revenues of approximately US $220 million
This article was originally published on Electronicstalk on 27 Jan 2003 at 8.00am (UK)
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"We are delighted to bring LTK Wiring, a company with an outstanding reputation for quality and innovation, into the Belden family", says John Stroup, Chief Executive Officer of Belden.
"This acquisition propels us toward one of our stated objectives, expanding our presence in faster growing emerging markets".
"It adds another prestigious brand, LTK, to our portfolio, and better positions us to compete effectively in China".
"LTK Wiring is a valued cable supplier to companies manufacturing consumer electronics, telecom equipment, white goods, automobiles and other OEM products in China".
"We are committed to sustaining LTK's leading market position and rapid growth".
"And with LTK's manufacturing expertise and capacity, we are now positioned to better serve Belden's Asia customers in networking, broadcasting, and industrial infrastructure".
Simon TY Cua, Managing Director, LTK Industries, will continue as Managing Director of LTK Wiring during a transition period.
LTK Wiring has a sales and service organisation that serves global customers who manufacture throughout the region.
This organisation includes sales offices in Japan, Taiwan, Korea, Singapore, and Thailand and an extensive sales and customer service team across China.
Additionally LTK has three manufacturing plants in China - in Huizhou, Shanghai and Dalian - and employs about 2000 associates.
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