BOSTON (Thomson Financial) - Bel Fuse Inc. said Friday that it sent a letter
to the board of Power-One Inc. urging the company to divest one or more of its
business units to reduce debt.
Bel Fuse and its wholly-owned subsidiary, Bel Ventures Inc., own about 4.4
million shares of Power-One, or roughly 5% of the outstanding shares.
"Simply put, it is our belief that if Power-One continues to perform as it
did in the most recently completed fiscal quarter, for example, with cash and
cash equivalents decreasing $7.6 million since December 31, 2007, the company
will quickly become unable to meet its capital requirements," Bel Fuse said.
Shares of Bel Fuse, a producer of electronic components headquarter in
Jersey City, N.J., closed Thursday at $28.38.
Greg Saulnier
gs/pc
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