2 April 2004, Chicago – Mayer, Brown, Rowe & Maw LLP has represented Molex Incorporated (MOLX) (MOLXA), a global electronic components company, in completing its previously announced transaction to acquire the automotive and specialty connectors business of Connecteurs Cinch SA (“Cinch”), an affiliate of SNECMA, the French aerospace group.
“There is a good fit between the products and technology of Connecteurs Cinch and Molex’s European Automotive Division,” said Joe King, Vice Chairman and Chief Executive Officer, Molex Incorporated. “Major global automotive manufacturers demand strong, established suppliers who can meet a full range of connector needs. This gives us an excellent opportunity to strengthen our growing position in this industry.”
The closing of the transaction has taken place with respect to Cinch’s operations and facilities in Europe. Completion of the transaction with respect to Cinch’s other facilities located in India and China will take place as soon as certain governmental approvals have been obtained in those countries and are expected to take place in the next quarter. Terms of the transaction were not disclosed.
Mayer, Brown, Rowe & Maw partners Richard Shepro in Chicago and Thomas Moore and Jean-Philippe Lambert in Paris advised Molex on the transaction.
Molex Incorporated is a 65-year-old manufacturer of electronic, electrical and fiber optic interconnection products and systems; switches; value-added assemblies; and application tooling. Based in Lisle, Illinois, USA, the Company operates 58 manufacturing facilities in 19 countries and employs approximately 17,275 people.