Littelfuse has acquired the gas discharge tube (GDT) assets of SRC Devices for $6 million in cash. Headquartered in La Jolla, Calif. with a manufacturing facility in Guadalajara, Mexico, SRC Devices is a manufacturer of gas discharge tubes, reed switches and reed relays. The company plans plan to move production of the GDT product line from the SRC manufacturing facility in Mexico to the existing Littelfuse operation in Suzhou, China. SRC Devices was formed by the acquisition of the dry reed switch organization from Clare in 2001, in combination with the existing reed relay and gas discharge tube surge product lines acquired from Sumida America Corporation.
In June Littelfuse has completed the previously disclosed acquisition of Catalina Performance Accessories, of Mountainburg, Ark. for $4.5 million in cash. Catalina markets and distributes the Smart Glow automotive blade fuse product line. The company has annual sales of approximately $2 million. The Smart Glow products will be integrated into Littelfuse’s broad portfolio of products for the automotive aftermarket.
Also in June Littelfuse has signed a definitive agreement to acquire the assets of Song Long Electronics, headquartered in Taiwan, for $5.5 million in cash. Song Long manufactures metal oxide varistors at its facility in Dongguan, China. The company has annual sales of approximately $5.5 million, including $2 million of sales to Littelfuse.
Littelfuse also decided the downsizing and ultimate closure of the Ireland facility. The company anticipates a pre-tax restructuring charges of approximately Euros 14.3 million. Cost savings related to the move of the varistor line are expected to begin in 2007 and reach an annual run rate of at least $10 million by the end of 2008. Littelfuse is a manufacturer of circuit protection products and solutions with annual sales of $467.1 million in 2005.