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Belden adds Lumberg and LTK to its portfolio

10 April, 2007

The US cabling giant Belden has gone on a shopping spree which has netted it Lumberg Automation Components in Germany, and LTK Wiring in Hong Kong, in addition to its previously announced takeover or Hirschmann Automation and Control (HAC).

The day after it completed its $260m acquisition of HAC, Belden announced that it was buying LTK for $195m, and a day later it added Lumberg to its portfolio for an undisclosed sum.

Belden has bought HAC from its venture capital owner, HgCapital, which acquired Hirschmann as part of a management buyout in 2004. Since then, two non-core subsidiaries have been sold and improvements have been made to the groupís efficiency. The acquisition will expand Beldenís activities beyond cabling, into signal transmission.

HAC, founded in 1924, had sales last year of around $250m. It employs some 750 people and has two production sites in Germany, as well as three manufacturing joint ventures in China. Its product range includes optical fibre interfaces for field bus systems, actuator and sensor connectors, and load indicating systems.

"HAC is the global market share leader for rail-mounted industrial Ethernet switches and a leading provider of industrial connectivity," says Belden president, John Stroup. "By combining HAC`s capabilities with Belden`s expertise in signal transmission, we can deliver networking solutions for the most demanding industrial environments and large-scale infrastructure projects worldwide."

He adds that the acquisition "positions Belden uniquely to serve customers who desire to integrate their industrial networks with their enterprise networks. We will move quickly to increase HAC`s presence in North America and Asia. The strength of our combined brands in the industrial connectivity market will be unsurpassed."

Lumberg, which makes industrial connectors and field bus components, has a strong position in the German OEM market. The family-owned firm, which has plants in Germany and the US, achieved sales worth around $75m last year. Stroup believes that Lumbergís products will complement the HAC portfolio "and reinforce Belden`s leadership in the industrial market".

The LTK acquisition is in Beldenís traditional cabling market. It is one of the largest producers of cabling for the Chinese market, with sales last year worth about $220m. It has three manufacturing plants, and employs about 2,000 people.

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