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Murata buys C&D Tech's power electronics division for $85M

Posted: 22 Jun 2007 ?? ?Print Version ?Bookmark and Share

Keywords:power electronics division? DC/DC converters? AC/DC power supplies?

C&D Technologies Inc. has signed a definitive agreement to sell its Power Electronics Division (PED) to Murata Manufacturing Co. Ltd for $85 million cash, subject to customary working capital adjustments.

With annual revenues of over $185 million, PED manufactures DC/DC converters, AC/DC power supplies, magnetics, DAQ devices and panel meters.

William Bachrach, PED general manager, commented, "This transaction allows the Power Electronic Division to bring a broader range of products to our existing customers, enables a new range of customers for our existing products and will improve our overall global competitiveness. Our combination with Murata provides a powerful platform for the future. "

"The sale of our Power Electronics Division to Murata delivers a good outcome to C&D shareholders by providing the company with liquidity to de-lever its balance sheet, fund important cost reduction programs and invest in additional growth initiatives within our Power Systems Division," said Jeffrey Graves, C&D president and CEO. "At the same time, our valued power electronics customers can look to a strong future knowing that PED will have additional resources to continue to meet and exceed the needs of their business."

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