Acquisition of Tribotek, Inc.’s Assets Expands Methode’s Presence in Power Distribution
Methode Electronics, Inc. (NYSE: MEI), a global manufacturer of electronic components and subsystem devices, recently announced that it has acquired the business assets of Tribotek, Inc., a Burlington, Mass.-based technology company.
Tribotek designs, develops and manufactures high-current power connectors and power distribution systems for products such as power supplies, servers, rectifiers, inverters, robotics and automated test equipment, in addition to various military and telecommunications applications. Tribotek's patented technology power connectors yield lower insertion force and lower voltage drop at the connection point. In addition, its power connectors also reliably handle a greater number of plug and unplug occurrences. The company will be integrated into Methode's Cableco Technologies business, enabling Methode to offer a more complete range of power distribution solutions and continue the evolution of its capabilities.
"Through the Tribotek acquisition, Methode has expanded its power connection systems and is now able to offer our customers a much broader range of power distribution products and solutions," said Chip Bronk, General Manager, Methode's Cableco. Technologies. "Tribotek's advanced technology directly complements our existing Cableco. offerings and extends our reach by providing a very robust power interconnect product line. This move will enable us to offer more customized solutions to better support our customers' increasingly complex power distribution needs. We are excited about the possibilities the acquisition holds for our current and future customers."
"The Tribotek acquisition is yet another example of our commitment to growing the Power Distribution segment and offering more complete solutions to our valued customers," said David Ciembronowicz, Director of Sales & Marketing, Methode Electronics. "We believe the acquisition will create new opportunities for growth and help us move from being a discrete components supplier to becoming a manufacturer of total product solutions."
In addition to providing Methode with an established product in the power connector market — helping to complete the link to printed circuit boards, cables and bus bars — the Tribotek acquisition will also help
Methode advance its bus bar product line. Moving forward, Methode will be able to design bus bars that are more technically advanced and efficient; providing our customers with more highly customized, higher value solutions across a wide range of industries from military/defense to robotics to computer/server systems.
Methode anticipates that Tribotek will be fully integrated into its Cableco business by the end of April 2008.
Phone: 408-453-9500 Ext 120
Network Bus Products
4001 Industrial Ave.
Rolling Meadows, IL 60008 USA
Network Bus Products are miniature, midsize and large bus bars for today's full range of electronic devices and systems. These custom-engineered solutions are available in a choice of laminated, machined, and powder-coated products designed to provide better performance and simplified packaging design compared with other similar technologies. Network Bus Products is ISO 9001 certified and is located in Rolling Meadows, IL, just outside of Chicago, with a full-capability manufacturing plant in Shanghai, China.
Methode Electronics, Inc., (NASDAQ:METH) (NYSE: MEI) is a global designer and manufacturer of electro-mechanical devices with manufacturing, design and testing facilities in the United States, Malta, Mexico, United Kingdom, Germany, China and Singapore. We design, manufacture and market devices employing electrical, electronic, wireless, sensing and optical technologies to control and convey signals through sensors, interconnections and controls. Our business is managed on a segment basis, with those segments being Automotive, Interconnect, Power Products and Other. Our components are in the primary end markets of the automobile, computer, information processing and networking equipment, voice and data communication systems, consumer electronics, appliances, aerospace vehicles and industrial equipment industries. Further information can be found on Methode's Web site www.methode.com.