DES PLAINES, Illinois, September 17th, 2008 – Littelfuse, Inc. (NASDAQ/NGS:LFUS) today announced that it has entered into an agreement to purchase Startco Engineering Ltd. The company, which is based in Saskatoon, Saskatchewan, is a recognized leader in ground-fault protection products and custom-power distribution centers that are used in industrial manufacturing and mining applications. Startco’s annual revenues are approximately $20 million.
"Startco’s complete line of ground-fault and motor protection relays complements our current line of industrial ground-fault protection products. The acquisition also provides Littelfuse with industrial power distribution design and manufacturing capabilities that strengthen our position within the growing mining industry,” said Dal Ferbert, Vice President and General Manager of Littelfuse’s Electrical Business Unit. “Startco provides a strong base for further expansion of our industrial protection business and broadens our capabilities to help customers reduce electrical hazards. They are an excellent fit for Littelfuse.”
“We are excited to bring this high-quality company into the Littelfuse family. We are impressed by Startco’s strong sales growth and attractive margins and with the high regard customers have for its products and quality of service. We plan to invest in continued growth by taking Startco’s products into new geographies and end markets and leveraging them to expand further our industrial safety services,” said Gordon Hunter, Chief Executive Officer of Littelfuse. The anticipated closing date is September 30, 2008.
About Littelfuse Founded in 1927, Littelfuse, Inc., the worldwide leader in circuit protection, offers the industry’s broadest and deepest portfolio of circuit protection products and solutions. Littelfuse devices protect products in virtually every market that uses electrical energy, from consumer electronics to automobiles to industrial equipment. In addition to its Chicago, Illinois, world headquarters, Littelfuse has more than 20 sales, distribution, manufacturing and engineering facilities in the Americas, Europe and Asia. Technologies offered by Littelfuse include Fuses; Gas Discharge Tubes (GDTs); Positive Temperature Coefficient Devices (PTCs); Relays, Controls, and Systems; PulseGuard® ESD Suppressors; SIDACtor® Protection Thyristors; TVS Diode Arrays (SPA™ Family of Products); Switching Thyristors; TVS Diodes and Varistors. The company also offers a comprehensive line of highly reliable Electromechanical and Electronic Switch and Control Devices for commercial and specialty vehicles, as well as underground Power Distribution.
For more information, please visit www.littelfuse.com.
LFUS-A
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. Any forward looking statements contained herein involve risks and uncertainties, including, but not limited to, product demand and market acceptance risks, the effect of economic conditions, the impact of competitive products and pricing, product development and patent protection, commercialization and technological difficulties, capacity and supply constraints or difficulties, exchange rate fluctuations, actual purchases under agreements, the effect of the company's accounting policies, and other risks which may be detailed in the company's Securities and Exchange Commission filings.