Tyco Completes Acquisition of Siemens Division

Hamilton, Bermuda-based Tyco International Ltd. has completed the acquisition of Siemens Electromechanical Components GmbH & Co. KG (Siemens EC) from Siemens AG, Power Generation Group KWU (Berlin and Munich). Under the agreement, Tyco has purchased Siemens EC for approximately $1.1 billion in cash.

Siemens EC, with sales of approximately $900 million, is develops relays and other passive components. These products are used in a variety of applications, including communications, automotive, and consumer.

Now that the acquisition is complete, Siemens will be integrated with Tyco Electronics, a member of Tyco's Telecommunications and Electronics segment. The combined group will manufacture passive components for electronic/communication designs.

Edited by Robert Keenan