Global connectivity leader in the field TE Connectivity announced that it has signed a legally binding agreement to acquire Xiamen Xing Deli Electrical Equipment Co., Ltd. (Deli Hing) and Xiamen SIBA disabilities connector Ltd. (SIBA disabilities) business .
Deli-Pa disabilities and the West is the production of heavy-duty industrial connector of the private sector. The company's products are widely used in heavy-duty connector machinery and equipment, factory automation, power distribution and railways, the company was founded in 1998 in the southern city of Xiamen, Fujian Province, China, in 2013 a turnover of $ 10 million. Heavy Duty Connectors Deli-SIBA disabilities and broaden the TE connectivity solutions offer the range of products for harsh environments. The transaction is expected to be completed in fiscal year 2015, after the completion of this transaction, TE-related business will report to the Ministry of Industry Solutions.
Thomas Schmidt, senior vice president and general manager of TE Industrial Equipment Division stated, "This acquisition will further accelerate the growth of TE, TE not only consolidate its market position in China, but also enhance its offer connectivity solutions for harsh environment industry position. combined Xing Deli and Western Pa disabilities as well as the operational capacity of both TE and regional penetration, we will provide the industry's unmatched portfolio of products, technologies and services for our customers. "
Deli Hing and Mr. Wu Qinghai, general manager of the Western Pa disabilities expressed, "This is an exciting development in the history of a company changes, we will benefit from the TE market size and penetration of overseas markets brought about new business opportunities and we are a successful Chinese local enterprises, with quality products and stable customer base and now we turn to get TE comprehensive product portfolio and advanced technologies and services, which will help our customers achieve greater success, while cooperation with the TE will also bring more jobs and better career prospects and employees Deli-SIBA disabilities. "
TE is committed to long-term development in China, and has over twenty years of continued strategic investment in China has laid a solid foundation. TE in China's 2013 fiscal year turnover of $ 2.2 billion, with 1,900 engineers, more than 15 manufacturing plants, four R & D centers and 18 sales offices, and now ushered talent Deli-and SIBA disabilities (about 200 employees) and joining techniques. This acquisition is a long-term commitment to maintaining its strong TE position in the Chinese market and to provide connectors to solve embody powerful solutions for the local market.
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