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© jackie egginton dreamstime.com Electronics Production | January 27, 2017

Belden to divest its Mobile Machine Control Solutions business

Belden Inc. has reached an agreement in principle to sell its Mobile Machine Control Solutions (MCS) business, including a 50% interest in a Chinese joint venture.
Both serve the mobile working machines industry. The buyer, WIKA Group – an industrial measurement technology company – will pay consideration of approximately USD 39 million, subject to customary post-closing adjustments.

The transaction is as usual subject to customary closing conditions, including regulatory clearance, and is expected to close in the second fiscal quarter.

The MCS business is a part of the company’s Industrial Connectivity platform, and the joint venture is an equity method investment within its consolidated results.
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January 17 2019 2:20 pm V11.11.0-2