Belden (NYSE: BDC), a global supplier of signal transmission connectivity solutions for mission critical applications, announced that it has completed the acquisition of Poliron Cabos Eletricos Especiais Ltda, a leading Brazilian supplier of industrial cables, in an all cash transaction valued at approximately $30 million.
Privately held Poliron has an established brand reputation and proven experience for product quality across one of the most complete lines of industrial cables in the region, says Belden. In addition, Belden said that it intends to leverage Poliron's manufacturing footprint to improve cost and lead-times for its existing products purchased in Brazil and other countries in the region.
"This acquisition allows us to be a legitimate player in one of the more attractive emerging markets," said John Stroup, President and Chief Executive Officer of Belden Inc. "In addition to the long-term growth opportunities, we are excited to participate in the near term investments in support of the 2014 FIFA World Cup and 2016 Summer Olympic Games."
Belden said in a press release funded the acquisition with cash on hand and expects the acquisition to be break-even in fiscal year 2011.
