February 11, 2004
St. Louis, MO--Belden Inc. and Cable Design Technologies have entered into a definitive merger agreement. The combined company will be called Belden CDT Inc. and will be headquartered in St. Louis.
Belden CDT--with sales of approximately $1.3 billion--will be among the largest U.S.-based manufacturers of high-speed electronic copper cable and will focus on products for the specialty electronics and data networking markets, including connectivity. The transaction is expected to be completed during the second quarter of 2004.
Following the completion of the merger, Bryan C. Cressey, chairman of the board of CDT, will serve as chairman of the board of the combined company, and C
. Baker Cunningham, chairman, president, and CEO of Belden, will serve as president and CEO of the combined company.
"The merger of Belden and CDT, both leaders in the cable and wire industry, creates a preeminent supplier of electronic and specialty products," said Cunningham. "The combination of well-known specialty brands means that we have a more comprehensive array of products and a broader range of preferred cabling and connectivity solutions. Expected synergies of approximately $25 million through the implementation of best practices and elimination of duplicate costs will make us more competitive in providing value to our customers," he added.
For more information, visit www.belden.com.
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