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Belden selling unit to Carlisle
CABLE maker Belden said yesterday it will sell its Thermax and Raydex cable businesses to diversified manufacturer Carlisle Cos for about $265m (£165.4m), including debt, as it looks to exit the aerospace and defence markets.
Belden, which also makes cables and networking products for the broadcast and consumer electronics industries, has been unable to remain competitive offering cables as a stand-alone product to the aerospace and defence markets, company spokesman Matt Tractenberg said.
Carlisle said it expects the acquisition to close by 31 December and add to earnings in 2013.