Belden selling Chinese consumer electronics assets

2012-09-14T08:54:00Z 2012-09-17T07:53:51Z Belden selling Chinese consumer electronics assetsFROM STAFF REPORTS stltoday.com

Belden Inc. is selling its consumer electronics assets in China for $43 million.

Belden, a maker of cable, connectivity and networking products headquartered in Clayton, said the sale of the assets to Shenzhen Woer Heat-Shrinkable Material Co. Ltd., is slated to close this year, pending Chinese regulatory approval.

The sale is expected to reduce Belden's 2013 revenue by between $100 and $120 million, but will not significantly impact operating profit, the company said.

"We believe this is a positive outcome that will benefit Belden shareholders by returning our focus to areas of strategic relevance in Asia," Belden's president and CEO John Stroup said in a statement.

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