EX-99.1 2 a6236171-ex991.htm EXHIBIT 99.1

Exhibit 99.1

Thomas & Betts Completes Acquisition of PMA AG

Leading Supplier of Technologically Advanced Cable Protection Systems for Specialized Industrial Applications

  • Purchase price – €84.5 million (approximately $115 million).
  • Annual sales approximately €33 million (approximately $45 million) in 2009.
  • Accretive to 2010 electrical segment margins and E.P.S.
  • Expands access for T&B family of market-leading industrial products to growing industrial markets outside of North America.
  • Profitable, growing business.

MEMPHIS, Tenn.--(BUSINESS WIRE)--April 1, 2010--Thomas & Betts Corporation (NYSE:TNB) announced today that it has completed its acquisition of PMA AG, a privately held, leading European manufacturer of technologically advanced cable protection systems, for €84.5 million (approximately $115 million). PMA reported sales of approximately €33 million (approximately $45 million) in 2009. The acquisition is expected to be accretive to 2010 electrical segment margins and earnings per diluted share.

PMA manufactures high-quality polyamide resin-based flexible conduit and fitting systems used in a broad variety of industrial applications to protect energy and data cables from external forces such as vibration, heat, fire, cold and tensile stress. PMA is a leader in providing cable protection systems for the rail car manufacturing and machine building industries and has a growing presence in mining and infrastructure projects. Based in Zurich, Switzerland, PMA products conform to worldwide standards and regulations and are sold in more than 45 countries in Europe, Asia, the Middle East and North America.

Thomas & Betts Corporation (www.tnb.com) is a leading designer and manufacturer of electrical components used in industrial, commercial and utility markets. The company is also a leading producer of commercial heating and ventilation units and highly engineered steel structures used for utility transmission. Headquartered in Memphis, Tenn., the company has manufacturing, distribution and office facilities worldwide.

This press release includes forward-looking statements which make assumptions regarding the company’s operations, business, economic and political environment. Actual results may be materially different from any future results expressed or implied by such forward-looking statements. The company undertakes no obligation to publicly release any revisions to any forward-looking statements contained in this press release to reflect events or circumstances occurring after the date of this release or to reflect the occurrence of unanticipated events.

CONTACT:
Thomas & Betts Corporation
Tricia Bergeron, 901-252-8266
tricia.bergeron@tnb.com