Molex Expands Offerings for Medical & Industrial Markets With Agreement to Acquire FCT Electronics Group
07 August 2013 - 2:00PM
Business Wire
Molex Incorporated (NASDAQ: MOLX, MOLXA), a global electronics
components company, announced today it has signed definitive
agreements to acquire FCT Electronics Group, based in Munich,
Germany. FCT Electronics Group specializes in designing and
manufacturing custom mixed-layout connectors and cable assemblies.
According to Tim Ruff, Molex senior vice president of business
development and corporate strategy, this is a strategic acquisition
that will help expand Molex’s presence in the global medical
electronics, industrial, telecom and aerospace markets.
“FCT Electronics Group is a great fit for Molex because it
expands our ability to provide customized connector and cable
assembly solutions across a broad range of end markets,” Ruff said.
“FCT Electronics Group is well known for its technology and service
as well as the depth and breadth of its product offering. It has a
long history of success because of its excellent team of talented,
experienced professionals with deep customer relationships across
many markets.”
Toni Kling, FCT Electronics Group founder and CEO, thinks that
Molex’s global sales and distribution reach will give both
companies the opportunity for faster growth.
“We offer specialized connectors and cable assembly solutions
for our customers,” he said. “With Molex’s global sales and
marketing team, we expect to significantly increase our market
reach in both new geographies and markets.”
Dan Schreck, FCT Electronics Group co-owner and president,
agrees. “We are very excited to join forces with Molex,” Schreck
said. “Molex has a reputation in our industry as a preeminent, blue
chip manufacturer of the highest quality interconnect products.
Combining Molex’s resources and FCT’s unique position in several
exciting, emerging markets will benefit our customers and
employees.”
About FCT Electronics Group
FCT Electronics Group was founded in 1972. It has manufacturing
operations in Germany, the Czech Republic, Thailand and the United
States.
The transaction remains subject to governmental approval and is
expected to close in the third quarter of calendar year 2013.
About Molex Incorporated
Providing more than connectors, Molex delivers complete
interconnect solutions for a number of markets including data
communications, telecommunications, consumer electronics,
industrial, automotive, medical, military, lighting and solar.
Established in 1938, the company operates 41 manufacturing
locations in 15 countries.
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Annual Report on Form 10-K for the year ended June 30, 2012 and the
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2012 and March 31, 2013, which are incorporated by reference and in
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Molex is a registered trademark of Molex Incorporated.
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