Tyco Electronics selling Australia-based unit
Tyco Electronics Ltd., which is incorporated in Switzerland but run from offices in Berwyn, Chester County, is selling an Australia-based division that makes transmission line hardware products for $16 million.
Preformed Line Products Co., of Mayfield Village, Ohio, said today that it will be acquiring the Dulmison division, which has operations in Thailand, Indonesia, Malaysia, China, Mexico and the United States. Tyco Electronic spokesman Mike Ratcliff said that the U.S. operations consisted of about six people in support and sales, based in North Carolina.
Preformed Line Products, which makes wires and cables for aboveground and belowground transmissions in the energy, telecommunication, cable operators, and information industries, said it expected to close on the purchase within 90 days.
Ratcliff said the sale fit into the company's overall strategy to evaluate its portfolio since it became an independent company from Tyco International Ltd. in 2007.
"We have no plans at this point to divest other businesses," Ratcliff said. - Roslyn Rudolph
