Molex acquires Connecteurs Cinch’s connectors business
Lisle, IL—Molex Inc. reports that it has successfully completed its acquisition of the automotive and specialty connectors business of Connecteurs Cinch SA, an affiliate of SNECMA, the France-based aerospace group.
Lisle, IL— Molex Inc. reports that it has successfully completed its acquisition of the automotive and specialty connectors business of Connecteurs Cinch SA, an affiliate of SNECMA, the France-based aerospace group.
The transaction has closed with respect to Cinch's operations and facilities in Europe. However, completion of the transaction with respect to Cinch's other facilities, located in India and China, will take place as soon as certain governmental approvals are obtained in those countries. These approvals are expected to take place in the third quarter of 2004. Terms of the overall transaction were not disclosed.
Joe King, Molex’s vice chairman and CEO, reports that acquiring Connecteurs Cinch will help Molex boost its share of the automotive connectors market in Europe. 'There is a good fit between the products and technology of Connecteurs Cinch and Molex's European Automotive Division,' says King. 'Major global automotive manufacturers demand strong, established suppliers who can meet a full range of connector needs. This gives us an excellent opportunity to strengthen our growing position in this industry.'
Molex is a 65-year-old manufacturer of electronic, electrical and fiber-optic interconnection products and systems; switches; value-added assemblies; and application tooling. The company operates 58 manufacturing facilities in 19 countries, and employs approximately 17,275 people.
Control Engineering Daily News Desk
Jim Montague, news editor
- Events & Awards
- Magazine Archives
- Oil & Gas Engineering
- Salary Survey
- Digital Reports
- Survey Prize Winners
Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey