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[LITTELFUSE LOGO] N E W S
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Littelfuse, Inc.
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800 East Northwest Highway Des Plaines, IL 60016
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NEWS RELEASE (847) 824-1188 o (847) 391-0894 - FAX #
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EXHIBIT 99.1
CONTACT: PHIL FRANKLIN,
VICE PRESIDENT, OPERATIONS SUPPORT & CFO (847) 391-0566
LITTELFUSE RECEIVES APPROVALS NEEDED TO FULLY INTEGRATE
HEINRICH INDUSTRIE AG
DES PLAINES, ILL., JULY 5, 2005 - Littelfuse, Inc. (Nasdaq/NMS:LFUS)
today announced it has received the approvals needed under German securities law
to enable it to fully integrate Heinrich Industrie AG into Littelfuse. At their
annual meeting on May 12, Heinrich shareholders approved resolutions allowing
Littelfuse to combine the two businesses and to start a legal process to
purchase the remaining 2.8% of the outstanding Heinrich shares. The resolution
allowing Littelfuse to move forward with integration was subsequently registered
with the German court.
"Our strategy in acquiring Heinrich was to add the company's highly
respected line of circuit protection products to our portfolio. We also
recognized opportunities to take cost out of the Heinrich business and improve
its margins, which are currently below those of the Littelfuse base business. We
plan to begin integrating the U.S. operations of Heinrich first, and then
combine the operations in Europe and Asia," said Gordon Hunter, Chief Executive
Officer.
"While Heinrich has already taken some steps to reduce costs, until now
we were unable to combine the operations of the two companies, which is expected
to produce significant cost savings. We anticipate that we will begin seeing the
benefits of the integration near the end of this year and into 2006," said
Hunter.
ABOUT LITTELFUSE
As the worldwide leader in circuit protection products and solutions
with annual sales of $500.2 million in 2004, the Littelfuse portfolio is backed
by industry leading technical support, design and manufacturing expertise.
Littelfuse products are vital components in virtually every product that uses
electrical energy, including automobiles, computers, consumer electronics,
handheld devices, industrial
-more-
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equipment, and telecom/datacom circuits. Littelfuse offers Teccor(R), Wickmann,
Pudenz and Efen brand circuit protection products. In addition to its Des
Plaines, Illinois, world headquarters, Littelfuse has research and manufacturing
facilities in China, England, Germany, Ireland, Mexico, the Philippines and the
United States. It also has sales, distribution and engineering facilities in
Brazil, China, Germany, Hungary, the Netherlands, Japan, Korea, Taiwan, Hong
Kong, Singapore and the U.S.
For more information, please visit Littelfuse's web site at
www.littelfuse.com
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"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995.
Any forward looking statements contained herein involve risks and uncertainties,
including, but not limited to, product demand and market acceptance risks, the
effect of economic conditions, the impact of competitive products and pricing,
product development and patent protection, commercialization and technological
difficulties, capacity and supply constraints or difficulties, exchange rate
fluctuations, actual purchases under agreements, the effect of the company's
accounting policies, labor disputes, restructuring costs in excess of
expectations and other risks which may be detailed in the company's Securities
and Exchange Commission filings.
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