Lisle, IL, November 19, 2009 --(PR.com
)-- Business Development Asia LLC ("BDA") is pleased to announce that Molex Inc (Nasdaq: MOLX and MOLXA), a global electronic components company, has completed the acquisition of Zhenjiang Tean Telecom & Appliances Co Ltd ("Tean") located in Jiangsu Province, China. Tean designs and manufactures radio frequency (RF) and microwave products for the telecom and base station/wireless markets globally.
The acquisition complements Molex's existing RF manufacturing presence in the US and Taiwan with cost efficient capacity in China and, in addition, offers Molex supplementary RF products and established relationships with some of the leading telecom operators and equipment vendors in China.
“Tean is an excellent fit for Molex because it expands our RF and microwave product capabilities and gives us a strong presence in the rapidly growing market in China. Tean is a strong competitor because of its innovative designs and quality manufacturing processes. They are a great fit with our existing RF business in Taiwan and the US, giving us the opportunity to expand both our product offerings and geographic reach. Tean has technical expertise, a strong customer base, and an excellent group of talented and experienced people,” said Mike Dunne, General Manager, RF Products unit of Molex's Global Integrated Products Division.
Xiaoting Zhang, Chairman of Zhenjiang Tean Telecom & Appliance commented: “Molex's global reach will help us grow our business more quickly. Our capabilities complement each other and together we are confident we can become a major force in the rapidly expanding global market for RF and microwave products.”
Established in 1995, with 350 employees, Tean Telecom & Appliance is a recognized leader in the domestic Chinese RF and microwave connectors industry. It will operate as a subsidiary of Molex and will be part of the company's Global Integrated Products Division. Terms for the transaction were not disclosed.
BDA acted as adviser to Molex on the transaction.
BDA Transaction Team
Euan Rellie, Senior Managing Director, New York, email@example.com
Jeffrey Wang, Managing Director, Shanghai, firstname.lastname@example.org
Shan Yue, Senior Associate, Shanghai, email@example.com
Xiang Li, Analyst, Shanghai, firstname.lastname@example.org
Molex Incorporated is a 71 year-old global manufacturer of electronic, electrical and fiber optic interconnection systems. Based in Lisle, Illinois, USA, the company operates 43 manufacturing locations in 18 countries. The Molex website is www.molex.com.
About Business Development Asia
Business Development Asia LLC was founded in 1996. BDA assists multinational corporate and financial sector clients to identify and execute acquisitions, divestments, JVs, restructuring and capital raising, in Asia and internationally. The company is headquartered in New York with offices in London, Bahrain, Mumbai, Hong Kong, Shanghai, Seoul, and Tokyo. BDA employs 50 full-time professional staff across its eight offices, supplemented by a team of senior advisors around the world. BDA's clients include Air Products, Areva, Cadbury Schweppes, Celestica, DIC, DuPont, Ecolab, Godrej, Great Lakes, Hanjin Shipping, Hercules, Huntsman, Inabata, Kennametal, Kimberly-Clark, Lear, Lubrizol, Mars, Molex, Morgan Stanley, Nalco, Reuters, Rohm & Haas, Ryder, Siemens, SigmaKalon, Sumitomo Chemical, Sun Chemical, TATA Auto Components, Tenneco, Tredegar, Visteon, WR Grace, and the British Government. Further information on BDA is available at www.bdallc.com.
For more information regarding this transaction, please contact Euan Rellie in New York on (1) 212 265 5300 or Jeffrey Wang in Shanghai on (86) 21 5407 5580.