Mayfield Village, Ohio, October 26, 2009 – Preformed Line Products Company (Nasdaq: PLPC) announced today that it has signed a definitive agreement to acquire the assets and equity interests of the Dulmison Business (Dulmison) from Tyco Electronics Ltd. (NYSE: TEL). The transaction is expected to close within 90 days.
Dulmison designs, manufactures and markets pole line hardware and vibration control products for the global electrical utility industry. Dulmison is based out of Australia with operations in Thailand, Indonesia, Malaysia, China, Mexico and the United States. The acquisition of Dulmison will strengthen Preformed's position in the power distribution and transmission hardware market and will expand its presence in the Asia-Pacific region.
Preformed's Chief Executive Officer and President, Rob Ruhlman stated, “The acquisition of Dulmison brings with it a talented group of industry professionals with a keen understanding of our core products, technologies and customers. This, coupled with the complementary fit of Dulmison's global business operations, will strengthen our overall product range and allow us to better serve our customers worldwide”.
About Preformed Line Products
Founded in 1947, Preformed Line Products is an international designer and manufacturer of products and systems employed in the construction and maintenance of overhead and underground networks for energy, communications and broadband network companies.
Preformed's world headquarters are in Cleveland, Ohio, and the Company operates three domestic manufacturing centers located in Rogers, Arkansas, Albuquerque, New Mexico, and Albemarle, North Carolina. The Company serves its worldwide market through international operations in Australia, Brazil, Canada, China, England, Mexico, New Zealand, Poland, South Africa, Spain and Thailand.