Thomas & Betts Corporation (NYSE:TNB) has acquired PMA AG. PMA is a privately held manufacturer of technologically advanced cable protection systems in Europe. The transaction was valued at $115 million. PMA’s reported sales for 2009 were $45 million. The company expects the acquisition to become accretive to 2010 electrical segment margins and earnings per diluted share.
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PMA is engaged in the manufacture of polyamide resin based flexible conduit and fitting systems. These systems are used in a variety of industrial applications for the protection of energy and data cables from external forces. It’s products conform to global standards and regulations. They are sold in over 45 countries in Europe, Asia, the Middle East and North America.
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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