SCHAFFHAUSEN, Switzerland, Sept. 2, 2014
/PRNewswire/ -- TE Connectivity Ltd. (NYSE: TEL), a world
leader in connectivity, today announced that it has completed the
acquisition of American Sensor Technologies, Inc. (AST), a
manufacturer of pressure and position sensing solutions with 2013
revenues of approximately $20
million. The acquisition further expands TE's growing
portfolio of sensors and sensor systems.
AST specializes in manufacturing products incorporating
their proprietary technologies for use in high performance, harsh
and extreme environments such as high corrosion, high and low
temperatures, and toxic and hazardous materials settings. AST's
products serve several industries including marine and offshore oil
and gas, energy and power generation, industrial controls,
aerospace and defense, and industrial and commercial
transportation.
The organization will become part of the TE Sensor
Solutions business unit led by President David Coughlan. The Sensor Solutions
business unit reports into TE's Transportation Solutions
segment.
FORWARD-LOOKING STATEMENTS
This
release contains certain "forward-looking statements" within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995. These statements are based on management's current
expectations and are subject to risks, uncertainty and changes in
circumstances, which may cause actual results, performance,
financial condition or achievements to differ materially from
anticipated results, performance, financial condition or
achievements. All statements contained herein that are not clearly
historical in nature are forward-looking and the words
"anticipate," "believe," "expect," "estimate," "plan," and similar
expressions are generally intended to identify forward-looking
statements. We have no intention and are under no obligation to
update or alter (and expressly disclaim any such intention or
obligation to do so) our forward-looking statements whether as a
result of new information, future events or otherwise, except to
the extent required by law. Examples of factors that could cause
actual results to differ materially from those described in the
forward-looking statements include, among others, business,
economic, competitive and regulatory risks, such as conditions
affecting demand for products, particularly in the automotive
industry and the telecommunications networks and consumer devices
industries; competition and pricing pressure; fluctuations in
foreign currency exchange rates and commodity prices; natural
disasters and political, economic and military instability in
countries in which we operate; developments in the credit markets;
future goodwill impairment; compliance with current and future
environmental and other laws and regulations; and the possible
effects on us of changes in tax laws, tax treaties and other
legislation. More detailed information about these and other
factors is set forth in TE Connectivity Ltd.'s Annual Report on
Form 10-K for the fiscal year ended Sept.
27, 2013 as well as in our Quarterly Reports on Form 10-Q,
Current Reports on Form 8-K and other reports filed by us with the
U.S. Securities and Exchange Commission.
ABOUT TE CONNECTIVITY
TE
Connectivity (NYSE: TEL) is a $13
billion world leader in connectivity. The company designs
and manufactures products at the heart of electronic connections
for the world's leading industries including automotive, energy and
industrial, broadband communications, consumer devices, healthcare,
and aerospace and defense. TE Connectivity's long-standing
commitment to innovation and engineering excellence helps its
customers solve the need for more energy efficiency, always-on
communications and ever-increasing productivity. With nearly 90,000
employees in over 50 countries, TE Connectivity makes connections
the world relies on to work flawlessly every day. To connect with
the company, visit: www.TE.com.
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SOURCE TE Connectivity Ltd.