BRUSSELS — Tyco Electronics Ltd., recently announced that its Board of Directors has authorized the company to pursue the divestiture of its Radio Frequency Components and Subsystem business. This business represented approximately 500 million USD of the Wireless Systems segment's total sales of 887 million USD in fiscal 2007.
The remaining portion of the Wireless Systems segment — Public Safety/Land Mobile Radio Systems and Products — is not included in the planned divestiture and there are no plans to exit or divest these businesses.
The divestiture is part of Tyco Electronics' previously-announced plan to divest or exit non-strategic businesses. Headquartered in Lowell, Massachusetts, the Radio Frequency Components and Subsystem business employs approximately 2,000 people primarily located at 11 locations throughout the U.S. and Europe. This business unit designs, manufactures and markets amplifiers, antennas, attenuators, diodes, signal generators, limiters, transistors, modulators and mixers; and microwave and millimeter wave integrated circuits for the aerospace, defense and commercial markets.
Beginning with the second fiscal quarter, the company will account for the businesses identified for planned divestiture as discontinued operations. Tyco Electronics continues to expect adjusted earnings per share (EPS) from continuing operations of 0.60 USD to 0.62 USD per share for its second fiscal quarter.
For further information visit www.tycoelectronics.com.
