DES PLAINES, IL — Littelfuse has signed a definitive agreement for the sale of its Efen product line to Weber AG, Switzerland, a subsidiary of the Hager Group. Terms of the transaction were not disclosed. Littelfuse obtained the Efen brand through its acquisition of Heinrich Industrie AG in May 2004. Annual sales of Efen products is approximately $31.8 million. The sale is expected to be completed in the first quarter of 2006.
Efen is a manufacturer of fuse-switches for electrical power distribution equipment, utility and industrial applications primarily serving the European market. Efen has approximately 230 employees at production and sales facilities in Uebigau and Eltville, Germany and Kaposvar, Hungary. Weber offers complete main electrical distribution systems.
“While Efen is a non-core business for Littelfuse, it is a good strategic fit for Weber. Efen’s product line will enhance Weber’s offering of fuse-switches for the European electrical market, while enabling us to focus on continuing to expand our industry-leading circuit protection product portfolio,” said Gordon Hunter, CEO of Littelfuse.
Click here to view the rest of today’s headlines.