Molex Expands Offerings For Medical & Industrial Markets With Agreement To Acquire FCT Electronics Group
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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV