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ADC & Andrew Corp to merge |
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by Stuart Corner
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Wednesday, 31 May 2006 |
ADC and Andrew Corporation are merging into what they claim will be "a global leader in wireline and wireless network infrastructure solutions" with combined revenues of approximately $US3.3 billion. ADC shareholders will own 56 percent of the merged entity, to be called ADC Andrew, and Andrew 44 percent.
The two companies claim extremely complementary strengths in ADCs wireline (including fibre) technologies and Andrew's wireless technologies. The combined entity will have approximately 20,000 employees worldwide of which approximately 37 percent are in the US & Canada, 22 percent in Europe, Middle East and Africa, 25 percent in Asia-Pacific and 16 percent% in Latin America. They will have locations in 35 countries.
The combined company will be based at ADC's world headquarters in Minnesota with ADC's John A Blanchard continuing as non-executive chairman, and ADC's Robert E Switz continuing as its president and CEO. Key members of the management teams from both companies will comprise the management team of the combined company after closing.
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