Diploma ties up Cabletec deal
Friday, August 03, 2007
Diploma, the international specialised distribution group, has acquired Cabletec Interconnect Components Systems Ltd, a supplier of wiring and connector products to the aerospace, defence and commercial electronics industries, for £6.2 million.
Bruce Thompson, chief executive of Diploma said: “The acquisition of Cabletec fits well with Diploma's strategy in its Controls Sector of increasing its presence in quality-sensitive market segments such as Aerospace, Defence, Rail and Power. The acquisition will broaden the product portfolio and add further depth to our operation by adding a company with proven added value and niche manufacturing skills.”
Cabletec is based in Weston-super-Mare, near Bristol, where it operates from a two acre freehold site comprising 22,000 square feet of office, warehouse and manufacturing facilities. The companyCabletec employs 65 staff.
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