[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 Completes Acquisition of Cinch Connectors for $39 Million
JERSEY CITY, New Jersey, January 29, 2010 . . . Bel Fuse Inc. (NASDAQ:BELFA
and NASDAQ:BELFB) announced today that it closed the previously announced
acquisition of Cinch Connectors from Safran S.A. (ENXTPA:SAF), a leading French
industrial group, for approximately $37.5 million in cash plus approximately
$1.5 million for the assumption of certain expenses. The final purchase price
remains subject to certain adjustments related to working capital. The
transaction, which was funded with cash on hand, is expected to be accretive to
Bel's earnings in 2010.
"The addition of Cinch's well-established lines of connector and cable
products and extensive customer base provides Bel with immediate access to large
and growing aerospace and military markets and strengthens Bel's position as a
one-stop supplier of high-performance computing, telecom and data products,"
said Dan Bernstein, President of Bel.
Founded in 1920 and headquartered in Lombard, Illinois and with
manufacturing facilities in Vinita, Oklahoma, Reynosa, Mexico and Worksop,
England, Cinch had revenue for 2009 of approximately $56 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.
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 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.
* * * * *
#4704