Thomas & Betts Agrees to Acquire European Manufacturer of Cable Protection Equipment

In a move to expand its offerings in the European, Middle Eastern and Asian markets, Thomas & Betts Corp., Memphis, Tenn., agreed to acquire PMA AG, Zurich, Switzerland, a privately held European manufacturer of 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.

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