MAYFIELD VILLAGE, Ohio,
March 18, 2014 /PRNewswire/ --
Preformed Line Products Company (NASDAQ: PLPC) announced today that
it has acquired Helix Uniformed Limited based in Montreal, Quebec, Canada. The transaction
closed on February 1st,
2014.
Founded in 1993 by Mr. Jean-Marc
Payer, Helix designs, manufactures and markets transmission
and distribution hardware and vibration control products for the
electric utility industry. The acquisition further
strengthens PLP's capabilities in the Canadian market and Helix's
extensive research and engineering expertise along with
manufacturing operations in Quebec
will significantly enhance the service and support PLP can provide
to its customers in this important region.
Preformed's Chief Executive Officer and President, Rob Ruhlman stated, "This is a very exciting
opportunity for both companies due to the complementary strengths
of both organizations. Since its founding, Helix has been one of
the very few companies to share the same passion for research,
engineering and design that we have. This, in addition to a
cultural like-mindedness, makes the future possibilities of this
union quite exciting. We enthusiastically welcome the Helix team to
the family!"
Founded in 1947, Preformed Line Products is an international
designer and manufacturer of products and systems employed in the
construction and maintenance of overhead and underground networks
for energy, communications and broadband network companies.
Preformed's world headquarters are in Cleveland, Ohio, and the Company operates
three domestic manufacturing centers located in Rogers, Arkansas, Albuquerque, New Mexico, and Albemarle, North
Carolina. The Company serves its worldwide market through
international operations in Argentina, Australia, Brazil, Canada, China, England, France, Indonesia, Malaysia, Mexico, New
Zealand, Poland,
Russia, South Africa, Spain and Thailand.
This news release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934 regarding the
Company, including those statements regarding the Company's and
management's beliefs and expectations concerning the Company's
future performance or anticipated financial results, among others.
Except for historical information, the matters discussed in this
release are forward-looking statements that involve risks and
uncertainties which may cause results to differ materially from
those set forth in those statements. Among other things,
factors that could cause actual results to differ materially from
those expressed in such forward-looking statements include the
strength of the economy and demand for the Company's products, the
Company's ability to develop new products and improve productivity,
increases in raw material prices, the Company's ability to
identify, complete and integrate acquisitions for profitable
growth, and other factors described under the headings
"Forward-Looking Statements" and "Risk Factors" in the Company's
2013 Annual Report on Form 10-K filed with the SEC on March 14, 2014 and subsequent filings with the
SEC. The Annual Report on Form 10-K and the Company's other
filings with the SEC can be found on the SEC's website at
http://www.sec.gov. The Company assumes no obligation to
update or supplement forward-looking statements that become untrue
because of subsequent events.
SOURCE Preformed Line Products Company