We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Bel Fuse Inc | NASDAQ:BELFA | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-2.98 | -3.52% | 81.59 | 81.11 | 130.80 | 84.01 | 80.75 | 84.01 | 21,047 | 00:09:38 |
The Stewart Czech business consists of two divisions where one operates as a distributor of other connectivity products and the other a manufacturer of copper, fiber and coaxial cable assemblies serving end markets including telecommunications, networking, banking and public administration. The divestiture is deemed to be immaterial to overall Bel operations with ~$5.2 million of annual sales.
“This divestment is a strategic decision that allows the Connectivity Solutions group to focus on our main product categories serving customer end markets such as Commercial Air, Defense, Industrial and Networking which better align to our long-term growth objectives,” said Pete Bitter, President of Cinch Connectivity Solutions, a Bel group company.
The sale was in the amount of ~$5.0 million dollars. The acquiring business, PEI-Genesis, a worldwide assembler and distributor of connector and cable solutions, is a long-standing franchise distribution partner of Bel. The sale of the business is a natural fit for PEI-Genesis, and Bel assures minimal disruption to existing customers during the transition. “We have been fortunate to work with our colleagues in Czech Republic for a number of years and know they will have great success with PEI,” concluded Mr. Bittner.
About BelBel (NASDAQ: BELFA and BELFB) designs, manufactures and markets a broad array of products that include circuit protection, connectors, cable assemblies, discrete components, magnetics, and power supplies. The Company serves a global market and operates facilities around the world.
Company Contact:Farouq TuweiqChief Financial Officerir@belf.com
Investor Contact:Three Part AdvisorsJean Marie Young, Managing Director or Steven Hooser, Partner631-418-4339
Media contactsBel FuseKelly WiggintonKelly.Wigginton@belf.com
PublitekZach Hynoskizach.hynoski@publitek.com
1 Year Bel Fuse Chart |
1 Month Bel Fuse Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions