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July 25, 2007
THOMAS & BETTS CORPORATION COMPLETES ACQUISITION OF JOSLYN HI-VOLTAGE AND POWER SOLUTIONS BUSINESSES FROM DANAHER CORPORATION
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MEMPHIS, Tenn. – July 25, 2007 Thomas & Betts Corporation (NYSE:TNB) today announced that it has completed its acquisition of the Joslyn Hi-Voltage and Power Solutions businesses from Danaher Corporation for $280 million in cash.
Joslyn Hi-Voltage offers a broad range of high voltage electric switches, reclosers, vacuum interrupter attachments and related products used mainly by electric utilities. Power Solutions offers a broad range of products and services designed to ensure a high quality, reliable flow of power to commercial and industrial customers for mission critical applications such as datacenters.
In a separate transaction, which closed on July 6, 2007, Thomas & Betts acquired Drilling Technical Supply SA (DTS), a privately held French manufacturer of explosion-proof lighting and electrical protection equipment, for approximately $20 million.
Thomas & Betts Corporation is a leading manufacturer of electrical components used in construction, industrial and utility markets. The company is also a leading producer of commercial heating and ventilation units and highly engineered steel structures used primarily for utility transmission. Headquartered in Memphis, Tenn., the company has manufacturing, distribution and office facilities worldwide. In 2006, the company reported $1.9 billion in revenues. More information on the company, its products and markets can be found at www.tnb.com.
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