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Thomas & Betts: Swiss conduit and fittings manufacturer PMA bought

US electrical components manufacturer Thomas & Betts (T&B, Memphis, Tennessee; www.tnb.com) has acquired Swiss polyamide conduit and fittings producer PMA (Uster; www.pma.ch), in a deal whose price tag amounts to EUR 85m.

Commenting on the acquisition, which is expected to close within 60 days, Dominic Pillegi, CEO of T&B, said his company hoped to benefit from PMA’s strong market presence in Europe, the Middle East and Asia. Aside from its activity in the cable protection systems business, where it has carved out a leading role, the Swiss group is also making inroads into mining and infrastructure. Its products are sold to 45 countries.

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