Thomas & Betts Corporation (NYSE:TNB) has announced that it has agreed to acquire PMA AG. PMA AG is a privately held European manufacturer of technologically advanced cable protection systems. The acquisition is valued at $120 million. It is expected to close within 60 days. It will be accretive to 2010 electrical segment margins and earnings per diluted share. PMA recently reported sales of $45 million for 2009.
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Thomas & Betts Corporation (Thomas & Betts) is a designer and manufacturer of electrical components used in industrial, construction, utility and communications markets. The Company is also a producer of commercial heating and ventilation units and highly engineered steel structures used for utility transmission. As of December 31, 2009, it had operations in approximately 20 countries. Its manufacturing, marketing and sales activities are concentrated primarily in North America and Europe. Thomas & Betts sells its products through three channels: electrical, utility, telephone, cable, and heating, ventilation and air-conditioning distributors; mass merchandisers, catalog merchandisers and home improvement centers, and directly to original equipment manufacturers (OEM’s), utilities and certain end users. It classifies its products into three segments: Electrical, Steel Structures, and Heating, Ventilation and Air-Conditioning (HVAC).
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