Product category: Plugs and Sockets
News Release from: Molex UK
Edited by the Electronicstalk Editorial Team on 17 November 2003
Molex to acquire Cinch
Molex has reached a tentative agreement to purchase the assets and business of Connecteurs Cinch and its subsidiaries in India, China and Portugal from its French parent, the Snecma Group
The parties are working together toward finalisation of a definitive asset purchase and sale agreement. Completion of the transaction, expected sometime in early 2004, is subject to receipt of certain regulatory approvals and to approval by the Board of Directors of Molex and the Board of Directors of Snecma.
The proposed transaction is in the process of being reviewed by Cinch's work councils in accordance with applicable local, legal requirements.
Terms of the agreement have not been disclosed.
Connecteurs Cinch, with sites in Montigny-le-Bretonneux for sales and R and D, and Villemur, France for manufacturing, specialises in automotive connection technology.
Its product line, human resources and strong European presence will strengthen Molex's role as a supplier of innovative interconnection solutions to major global automotive manufacturers.
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