Bel Acquires BCMZ Precision Engineering Limited
October 03 2018 - 11:30AM
Bel Fuse Inc. (NASDAQ:BELFA and NASDAQ:BELFB) announced today the
acquisition of privately-held BCMZ Precision Engineering Limited, a
UK based manufacturer of precision machined components, since
1970.
For over 50 years BCMZ has been a successful provider of
machined components to a range of industries and is a trusted
supplier of precision machined components into our Cinch
Connectivity Solutions UK business. The company has a diversified
portfolio of customers in the Automotive, Aerospace, Defense,
Telecommunications, Fibre-Optic, and Medical Industrial Sectors.
BCMZ is additionally expected to give Cinch the capability to
continue to support key defense and industrial customers across
Europe with localized in-house machining ability.
“BCMZ has been a strategic supplier to Cinch Connectivity
Solutions, Fibreco product line since its inception and
we look forward to utilizing this ability across our broader
business in the future. Bel’s acquisition of BCMZ allows the
business to modernize and vertically integrate our in-house
operations and further improve our supply chain management,” said
Pete Bittner, President of Bel Connectivity Solutions business.
Terms of the acquisition were not disclosed.
About BelBel (www.belfuse.com) designs,
manufactures and markets a broad array of products that power,
protect and connect electronic circuits. These products are
primarily used in the networking, telecommunications, computing,
military, aerospace, transportation and broadcasting
industries. Bel's product groups include Magnetic Solutions
(integrated connector modules, power transformers, power inductors
and discrete components), Power Solutions and Protection
(front-end, board-mount and industrial power products, module
products and circuit protection), and Connectivity Solutions
(expanded beam fiber optic, copper-based, RF and RJ connectors and
cable assemblies). The Company operates facilities around the
world.
Forward Looking StatementsExcept
for historical information contained in this press release, the
matters discussed in this press release are forward looking
statements as described under the Private Securities Litigation
Reform Act of 1995 that involve risks and uncertainties.
Actual results could differ materially from Bel's projections.
Among the factors that could cause actual results to differ
materially from such statements are: the market concerns facing our
customers; the continuing viability of sectors that rely on our
products; the effects of business and economic conditions;
difficulties associated with integrating recently acquired
companies; capacity and supply constraints or difficulties; product
development, commercialization or technological difficulties; the
regulatory and trade environment; risks associated with foreign
currencies; uncertainties associated with legal proceedings; the
market's acceptance of the Company's new products and competitive
responses to those new products; our ongoing evaluation of the
consequences of the U.S. Tax Cuts and Jobs Act; the impact of
changes to U.S. trade and tariff policies; and the risk factors
detailed from time to time in the Company's SEC reports. In light
of the risks and uncertainties, there can be no assurance that any
forward-looking statement will in fact prove to be correct. We
undertake no obligation to update or revise any forward looking
statements.
Media Contact: Mary
Benetti-CondonMary.benetticondon@belf.com
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