Belden buys Lumberg Automation Components

Lumberg is a supplier of industrial connectivity products for factory automation machinery with 2006 revenues of approximately $75 million. The company's product scope includes industrial connectors, high performance cord-sets and field bus communication components. "Lumberg Automation has built an extremely strong brand over its 70-year history and has established itself as an innovator in industrial connectivity for factory automation," said John Stroup, President and Chief Executive Officer of Belden. "They have a strong market position with leading German equipment OEMs and provide both standard and customized solutions to meet the connectivity requirements of a wide range of industrial customers. We believe the addition of Lumberg Automation will complement the industrial connectivity portfolio of the recently acquired Hirschmann Automation and Control and reinforce Belden's leadership in the industrial market. With Belden's expanding global reach and this strong portfolio, we expect to accelerate our revenue growth in the industrial market." Lumberg Automation is headquartered in Schalksmuhle, Germany and has production facilities in Germany and the United States. The companies expect the transaction to close during the second quarter. Belden anticipates that the transaction will be accretive to 2007 earnings.