Viasystems Purchases Marconi's European and Chinese NC&S Business
Viasystems Group Inc. (St. Louis, MO) purchased Marconi plc's (London) Network Components and Services business in Europe and China (NC&S) for US$115.0 million. NC&S was acquired by Marconi as part of its acquisition of Reltec Corp. in April 1999.
NC&S is a leading European and Chinese manufacturer of enclosures, electro-mechanical assemblies and sub-assemblies designed for the telecommunications marketplace. NC&S' products include integrated enclosures, racks, sub-racks, heat-management systems, cable assemblies and customized power supplies. NC&S has facilities in the UK, Italy and China as well as joint venture facilities in Denmark and the US.
The sale of NC&S is consistent with Marconi's strategy to focus on its core business in high-technology transmission and access markets. NC&S will benefit from being part of a leading electronics manufacturing service provider. NC&S will continue to supply certain products to Marconi pursuant to a supply arrangement.