Littelfuse Announces Acquisition of Selco A/S
2011-08-05 12:35:00CHICAGO, August 5, 2011 - Littelfuse, Inc. (NASDAQ: LFUS) today announced that it has purchased all the outstanding stock of Selco A/S. Selco, based in Roskilde, Denmark, is a recognized leader of extremely reliable power generation and control relays for the marine and industrial markets.
"The acquisition of Selco is a significant step in our strategy to expand our protection relay business," said Dan Stanek, General Manager of Littelfuse Startco. "Their focus on power generation controls and arc-flash detection systems compliment our existing offering of protection relays. They also provide a strong base for further expansion of our industrial protection business and broaden our capabilities to help customers reduce electrical hazards. They are an excellent fit for Littelfuse."
Jens Hammer Sorensen, Managing Director of Selco, added, "We believe that this is a great partnership. We think the combination with Littelfuse will allow us to bring new products and capabilities to our customers and enable new opportunities to grow the business."
About Selco A/S
Since its founding in 1984, Selco has been a pioneer and leader in the development of extremely reliable electrical products for the marine industry and has earned a reputation for quality and value. Selco collaborated on many basic industry standards and today is a preferred supplier for many of the world's leading ship builders and land-based power generation operations. Selco products are available as standard or custom designed products to meet customer needs. Selco is ISO 9001-certified. The company is headquartered in Roskilde, Denmark, with sales offices in the Middle East, India and China.
About Littelfuse
Littelfuse, Inc. is the worldwide leader in circuit protection with 2010 revenues of $608 million. Founded in 1927, Littelfuse offers the industry's broadest and deepest portfolio of circuit protection products and solutions. Backed by industry-leading technical support, design and manufacturing expertise, 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); Protection Relays; PulseGuard ESD Suppressors; SIDACtor Devices; 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 Centers for safe control and distribution of electricity in mining operations.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995.
The statements in this press release that are not historical facts are intended to constitute "forward-looking statements" entitled to the safe-harbor provisions of the PSLRA. These statements may involve risks and uncertainties, including, but not limited to, risks relating to product demand and market acceptance, economic conditions, the impact of competitive products and pricing, product quality problems or product recalls, capacity and supply difficulties or constraints, coal mining exposures reserves, failure of an indemnification for environmental liability, exchange rate fluctuations, commodity price fluctuations, the effect of the company's accounting policies, labor disputes, restructuring costs in excess of expectations, pension plan asset returns less than assumed, integration of acquisitions and other risks which may be detailed in the company's other Securities and Exchange Commission filings. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, actual results and outcomes may differ materially from those indicated or implied in the forward-looking statements. This report should be read in conjunction with information provided in the financial statements appearing in the company's Annual Report on Form 10-K for the year ended December 31, 2011. For a further discussion of the risk factors of the company, please see Item 1A. "Risk Factors" to the company’s Annual Report on Form 10-K for the year ended December 31, 2011.
