Exhibit 99.1
[LITTELFUSE(R) LOGO] NEWS
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Littelfuse, Inc.
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800 East Northwest Highway Des Plaines, IL 60016
NEWS RELEASE -------------------------------------------------
(847) 824-1188 o (847) 391-0894 - FAX #
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CONTACT: PHILIP G. FRANKLIN
VICE PRESIDENT, OPERATIONS SUPPORT & CFO (847) 391-0566
LITTELFUSE TO MOVE TECCOR WAFER FABRICATION TO CHINA
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DES PLAINES, ILLINOIS, DECEMBER 6, 2006 -- Littelfuse, Inc.
(NASDAQ/NGS:LFUS) today announced plans to transfer its semiconductor wafer
manufacturing from Irving, Texas to Wuxi, China in a phased transition over the
next three to four years. Upon completion of the transfer, the Irving facility
will be closed.
Littelfuse will invest approximately $16 million to build a new wafer
fabrication facility in Wuxi adjacent to an existing plant the company acquired
in May 2006 as part of its purchase of Concord Semiconductor. This project is
expected to generate $9 to $10 million of annual savings once the transfer from
Irving is complete. The Irving plant closure will result in pre-tax
restructuring charges of approximately $2.5 million in the fourth quarter of
2006 and approximately $3.5 million over the period of 2007 to 2010.
"We are committed to making this transition as seamless as possible for
our customers," said Gordon Hunter, Chief Executive Officer of Littelfuse. "As
part of that commitment, we will maintain continuous production capabilities for
all products throughout the move."
The Irving facility produces thyristor surge protection and power
control devices. Littelfuse acquired the Irving operation in 2003 through its
acquisition of Teccor Electronics Corporation. Approximately 180 employees in
Irving will be affected by the move.
"This was a difficult decision given that Irving employees have been a
significant part of our growth and success," said Hunter. "However, we believe
this move is in the best interest of our company, our customers and our
shareholders over the long term."
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About Littelfuse
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As the worldwide leader in circuit protection products and solutions
with annual sales of $467.1 million in 2005, 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 equipment, and telecom/datacom circuits. Littelfuse
offers Teccor(R), Wickmann(R) and Pudenz(R) brand circuit protection products.
In addition to its Des Plaines, Illinois, world headquarters, Littelfuse has
sales, distribution, manufacturing and engineering facilities in Brazil, China,
England, Germany, Hong Kong, India, Ireland, Japan, Korea, Mexico, the
Netherlands, the Philippines, Singapore, Taiwan 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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