Technology | 2010.02.24
Thomas & Betts to Acquire PMA AG
MEMPHIS, Tenn.--(BUSINESS WIRE)--Thomas & Betts Corporation (NYSE:TNB) announced today that it has agreed to acquire PMA AG, a privately held, leading European manufacturer of technologically advanced cable protection systems, for €85 million (approximately $120 million). The acquisition is expected to close within 60 days. PMA reported sales of approximately €33 million (approximately $45 million) in 2009. The acquisition is expected to be accretive to 2010 electrical segment ma
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