02 February 2007
HAC, part of the Hirschmann group, is being sold by European private equity investor, Hg Capital, in a move Belden will allow it to offer “integrated industrial network solutions”. The transaction is expected to be complete approximately 45 days after January 30 and the deal will include Belden taking on certain responsibilities including future pension liabilities.A specialist in automation and network technology, HAC’s product range includes Ethernet, Fast-Ethernet and Gigabit-Ethernet products, as well as fibre interfaces for different field bus systems and actuator and plug connectors.St. Louis based Belden is a provider of signal transmission solutions and John Stroup, president and CEO, said HAC’s strong brand would complement and expand Belden’s own product range. Reinhard Sitzmann will continue his role as managing director of HAC. He said he looked forward to working with Belden, commenting: “The two businesses complement each other not only in terms of products, but also geographically, as each has its own regional strengths.“We now have a major opportunity to significantly strengthen our business in the United States and Asia while Belden will be able to expand its presence in Europe”.
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