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 busbars - the Tribotek acquisition will also help Methode advance its busbar product line. Moving forward, Methode will be able to design busbars 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.
About Cableco Technologies Corporation
Cableco Technologies Corporation is a major manufacturer of cable, interconnection and custom engineered products designed for high-current power distribution solutions for computer, computer peripheral, office automation, instrumentation, telecommunication, medical, industrial and military applications. In addition to its custom solution capabilities, Cableco serves its markets with a broad line of products that includes the highly flexible PowerFlex(TM) cable, the Power SwivelNut(TM) rotating threaded nut for stranded wire cable termination, the cost effective PowerPath(TM) power distribution cable system, and the PowerRail(TM) pluggable rail power distribution system. Cableco has design and manufacturing capabilities in San Jose, CA and Reynosa, Mexico.
About Methode Electronics
Methode Electronics, Inc. (NYSE: MEI) is a global manufacturer of component and subsystem devices with manufacturing, design and testing facilities in the United States, Malta, Mexico, United Kingdom, Germany, Czech Republic, 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 Distribution 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 http://www.methode.com.