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Murata Acquires Components Business
July 3, 2007 |Estimated reading time: Less than a minute
KYOTO, Japan Murata Manufacturing Co. Ltd. will acquire the power electronics division (PED Mansfield, Mass.) of C&D Technologies, Inc. (Blue Bell, Pa.), for about $85 million, funded by the company's cash reserves. PED brings additional standard power supply components to Murata's portfolio, and proffers an overseas market base.
The acquisition will be completed in the first half of 2007, subject to legal and regulatory approvals and completion of acquisition-contract conditions. PED comprises six subsidiaries of C&D, with net sales of $185 million in 2006, and about 1,300 employees. It operates in Mannsfield; Tucson, Ariz.; Milton Keynes and Bordon, U.K.; Shanghai and Guangzhou, China; Nogales, Mexico; Paris; Munich, Germany; and Tokyo and Osaka, Japan.
PED develops and manufactures AC/DC power supplies, inductors, transformers, and other components, and retains a large market share in DC/DC converters, said Murata. It will have the opportunity to expand and improve its businesses through access to Murata's sales network, production technology, and materials procurement capacities, added the company representative. Murata will become sole owner of PED, financed from its cash reserves, and does not foresee a major disruption to its consolidated performance projection due to the acquisition.