|Startco Engineering Inc.|
|Littelfuse Announces Acquisition of Startco Engineering Ltd.
Wed Sep 17, 2008
DES PLAINES, Illinois
Littelfuse, Inc. (NASDAQ:LFUS) today announced that it has entered into an agreement to purchase Startco Engineering Ltd. The company, which is based in Saskatoon, Saskatchewan, is a recognized leader in ground-fault protection products and custom-power distribution centers that are used in industrial manufacturing and mining applications. Startco's annual revenues are approximately $20 million.
"Startco's complete line of ground-fault and motor protection relays complements our current line of industrial ground-fault protection products. The acquisition also provides Littelfuse with industrial power distribution design and manufacturing capabilities that strengthen our position within the growing mining industry," said Dal Ferbert, Vice President and General Manager of Littelfuse's Electrical Business Unit. "Startco provides a strong base for further expansion of our industrial protection business and broadens our capabilities to help customers reduce electrical hazards. They are an excellent fit for Littelfuse."
"We are excited to bring this high-quality company into the Littelfuse family. We are impressed by Startco's strong sales growth and attractive margins and with the high regard customers have for its products and quality of service. We plan to invest in continued growth by taking Startco's products into new geographies and end markets and leveraging them to expand further our industrial safety services," said Gordon Hunter, Chief Executive Officer of Littelfuse.
The anticipated closing date is September 30, 2008.
As the worldwide leader in circuit protection products and solutions with annual sales of $536.1 million in 2007, the Littelfuse portfolio is backed by industry leading technical support, design and manufacturing expertise. Littelfuse products are vital components in virtually every product that uses electrical energy, including automobiles, computers, consumer electronics, handheld devices, industrial equipment, and telecom/datacom circuits. Littelfuse offers Teccor(R), Wickmann(R) and Pudenz(R) brand circuit protection products. In addition to its Des Plaines, Illinois, world headquarters, Littelfuse has sales, distribution, manufacturing and engineering facilities in Brazil, China, England, Germany, Hong Kong, India, Ireland, Japan, Korea, Mexico, the Netherlands, the Philippines, Singapore, Taiwan and the U.S.
For more information, please visit Littelfuse's web site at www.littelfuse.com