DES PLAINES, Illinois, August 1, 2006 - Littelfuse, Inc. (NASDAQ/NGS:LFUS) today announced it has acquired the gas discharge tube (GDT) assets of SRC Devices, Inc., for $6 million in cash, subject to post-closing purchase price adjustments. Headquartered in La Jolla, Calif. with a manufacturing facility in Guadalajara, Mexico, SRC Devices is a leader in the design and manufacture of gas discharge tubes, high-quality reed switches and reed relays. The acquisition is expected to be neutral to Littelfuse earnings in 2006.
“This is a strategic step that broadens our GDT product line and brings new customers to Littelfuse. The acquisition gives Littelfuse a strong base in industrial applications for the GDT products and further enhances our already solid position in the telecom market,” said David Samyn, Vice President and General Manager of Littelfuse’s Electronics Business Unit.
“We plan to move production of the GDT product line from the SRC manufacturing facility in Mexico to our existing operation in Suzhou, China. Consolidating production of the GDT line at one facility will enable us to reduce costs and further leverage our existing capabilities in China,” said Samyn.
About Littelfuse
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®, Wickmann® and Pudenz® 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.
About SRC Devices, Inc.
SRC Devices, Inc. is a leading manufacturer of reed switches, reed relays and gas discharge tubes. SRC Devices was formed by the acquisition of the dry reed switch organization from Clare Inc. in 2001, in combination with the existing reed relay and gas discharge tube surge product lines acquired from Sumida America Corporation. For more information please visit the SRC Devices web site at www.srcdevices.com.