Preformed Line Products Announces Agreement To Acquire Dulmison Business From
Tyco Electronics
MAYFIELD VILLAGE, Ohio, Oct. 26 /PRNewswire-FirstCall/ -- Preformed Line
Products Company (Nasdaq: PLPC) announced today that it has signed a
definitive agreement to acquire the assets and equity interests of the
Dulmison Business (Dulmison) from Tyco Electronics Ltd. (NYSE: TEL). The
transaction is expected to close within ninety days.
Dulmison designs, manufactures and markets pole line hardware and vibration
control products for the global electrical utility industry. Dulmison is
based out of Australia with operations in Thailand, Indonesia, Malaysia,
China, Mexico and the United States. The acquisition of Dulmison will
strengthen Preformed's position in the power distribution and transmission
hardware market and will expand its presence in the Asia-Pacific region.
Preformed's Chief Executive Officer and President, Rob Ruhlman stated, "The
acquisition of Dulmison brings with it a talented group of industry
professionals with a keen understanding of our core products, technologies and
customers. This, coupled with the complementary fit of Dulmison's global
business operations, will strengthen our overall product range and allow us to
better serve our customers worldwide."
Founded in 1947, Preformed Line Products is an international designer and
manufacturer of products and systems employed in the construction and
maintenance of overhead and underground networks for energy, communications
and broadband network companies.
Preformed's world headquarters are in Cleveland, Ohio, and the Company
operates three domestic manufacturing centers located in Rogers, Arkansas,
Albuquerque, New Mexico, and Albemarle, North Carolina. The Company serves
its worldwide market through international operations in Australia, Brazil,
Canada, China, England, Mexico, New Zealand, Poland, South Africa, Spain and
Thailand.
This news release contains "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934 regarding the Company, including those statements
regarding the Company's and management's beliefs and expectations concerning
the Company's future performance or anticipated financial results, among
others. Except for historical information, the matters discussed in this
release are forward-looking statements that involve risks and uncertainties
which may cause results to differ materially from those set forth in those
statements. Among other things, factors that could cause actual results to
differ materially from those expressed in such forward-looking statements
include the strength of the economy and demand for the Company's products,
increases in raw material prices, the Company's ability to identify, complete
and integrate acquisitions for profitable growth, and other factors described
under the heading "Forward-Looking Statements" in the Company's 2008 Annual
Report on Form 10-K filed with the SEC on March 13, 2009. The Annual Report
on Form 10-K and the Company's other filings with the SEC can be found on the
SEC's website at http://www.sec.gov. The Company assumes no obligation to
update or supplement forward-looking statements that become untrue because of
subsequent events.
SOURCE Preformed Line Products Company
Dennis F. McKenna of Preformed Line Products, +1-440-473-9214
