[GRAPHIC OMITTED] Bel Fuse Inc.
206 Van Vorst Street
FOR IMMEDIATE RELEASE Jersey City, NJ 07302
www.belfuse.com
tel 201.432.0463
fax 201.432.9542
Investor Contact: Company Contact:
Neil Berkman Associates Daniel Bernstein
(310) 826-5051 President
info@berkmanassociates.com (201) 432-0463
Bel Agrees to Acquire Cinch Connectors
From Safran S.A. For $39 Million
JERSEY CITY, New Jersey, December 28, 2010 -- Bel Fuse Inc. (NASDAQ:BELFA
and NASDAQ:BELFB) announced today that it has agreed to acquire Cinch Connectors
from Safran S.A. (ENXTPA:SAF), a leading French industrial group, for $37.5
million in cash plus approximately $1.5 million for the assumption of certain
expenses. The transaction will be funded with cash on hand.
Headquartered in Lombard, Illinois and with manufacturing facilities in
Vinita, Oklahoma, Reynosa, Mexico and Worksop, England, Cinch had revenue for
2009 of approximately $60 million. Cinch manufactures a broad range of
interconnect products for customers in the military and aerospace,
high-performance computing, telecom/datacom, and transportation markets. Cinch's
products include CIN::APSE & iQ, Omega, Dura-Con, Cables, Header & Harness
Connectors, ModICE & ICE, and AMC Connectors, as well as miniature ribbons,
D-subminiature connectors, Filtered D-subminiatures, barrier blocks and jones
plugs & sockets.
"Cinch stands out in the highly fragmented connector market because of its
innovative technologies, breadth of product offerings, outstanding customer
service, and exceptional product performance," said Daniel Bernstein, President
of Bel. "Cinch's products and manufacturing assets are a natural addition to
Bel's, and we see attractive growth opportunities in the combination of our
extensive customer bases. We expect this acquisition to close in early 2010, and
to be accretive to Bel's earnings in 2010."
About Bel
Bel (www.belfuse.com) and its subsidiaries are primarily engaged in the
design, manufacture and sale of products used in networking, telecommunications,
high speed data transmission, and consumer electronics. Products include
magnetics (discrete components, power transformers and MagJack(R)s), modules
(DC-DC converters, integrated analog front end modules and custom designs),
circuit protection (miniature, micro and surface mount fuses) and interconnect
devices (passive jacks, plugs and cable assemblies). Bel operates facilities
around the world.
Forward-Looking Statements
Except for historical information contained in this news release, the
matters discussed in this press release (including statements regarding growth
opportunities and the accretive nature of the transaction) are forward looking
statements that involve risks and uncertainties. Among the factors that could
cause actual results to differ materially from such statements are: the
satisfaction of closing conditions in the purchase agreement, the risks
associated with integrating two businesses, the market concerns facing the
combined company's customers, the continuing viability of sectors that rely on
the combined company's products, the effect of business and economic conditions;
capacity and supply constraints or difficulties; product development,
commercializing or technological difficulties; the regulatory and trade
environment; risks associated with foreign currencies; uncertainties associated
with legal proceedings; the market's acceptance of the combined company's new
products and competitive responses to those new products and the risk factors
detailed from time to time in the Company's SEC reports. In light of the risks
and uncertainties, there can be no assurance that any forward-looking statement
will in fact prove to be correct. We undertake no obligation to update or revise
any forward-looking statements.
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