Molex to Buy Connecteurs Cinch

Molex reaches tentative agreement to buy the assets and business of Connecteurs Cinch and its subsidiaries from the Snecma Group

October 29, 2003

1 Min Read

LISLE, Ill. -- Molex Incorporated (NASDAQ: MOLX and MOLXA), a global electronic components company, today announced that it has reached a tentative agreement to purchase in a cash transaction, the assets and business of Connecteurs Cinch S.A. and its subsidiaries in India, China and Portugal from the Snecma Group, its Paris, France based parent.

The parties are working together toward finalization of a definitive Asset Purchase and Sale Agreement. Completion of the transaction, expected sometime in early 2004, is subject to receipt of certain regulatory approvals and to approval by the Board of Directors of Molex Incorporated and the Board of Directors of Snecma S.A. The proposed transaction is in the process of being reviewed by Cinch's work councils in accordance with applicable local, legal requirements. Terms of the agreement have not been disclosed.

Connecteurs Cinch S.A., with sites in Montigny-le-Bretonneux for sales and R&D, and Villemur, France for manufacturing, specializes in automotive connection technology. Its product line, human resources and strong European presence will strengthen Molex's role as a supplier of innovative interconnection solutions to major global automotive manufacturers.

Molex Inc.

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