C&D Technologies has announced its intention to sell its Power Electronics Division to Murata Manufacturing.
C&D Technologies has announced its intention to sell its Power Electronics Division (PED) to Murata Manufacturing. The transaction is subject to regulatory and other approvals. Dr. William Bachrach, General Manager of PED, commented, “This transaction allows the Power Electronic Division to bring a broader range of products to our existing customers, enables a new range of customers for our existing products and will improve our overall global competitiveness. Our combination with Murata provides a powerful platform for the future. We are honored to be joining such a respected and longstanding force within the electronics industry.”
“The sale of our Power Electronics Division to Murata delivers a good outcome to C&D shareholders by providing the Company with liquidity to de-lever its balance sheet, fund important cost reduction programs and invest in additional growth initiatives within our Power Systems Division,” stated Dr. Jeffrey Graves, President and Chief Executive Officer. “At the same time, our valued power electronics customers can look to a strong future knowing that PED will have additional resources to continue to meet and exceed the needs of their business.”
