TE Connectivity Expands Sensors Offering with the Addition of American Sensor Technologies, Inc.

-- Expands Range of Sensor Solutions for Harsh and Extreme Environments --

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Sep 02, 2014, 02:45 ET

SCHAFFHAUSEN, Switzerland, Sept. 2, 2014 /PRNewswire/ -- TE Connectivity Ltd. (NYSE: TEL), a world leader in connectivity, today announced that it has completed the acquisition of American Sensor Technologies, Inc. (AST), a manufacturer of pressure and position sensing solutions with 2013 revenues of approximately $20 million. The acquisition further expands TE's growing portfolio of sensors and sensor systems.

AST specializes in manufacturing products incorporating their proprietary technologies for use in high performance, harsh and extreme environments such as high corrosion, high and low temperatures, and toxic and hazardous materials settings. AST's products serve several industries including marine and offshore oil and gas, energy and power generation, industrial controls, aerospace and defense, and industrial and commercial transportation.

The organization will become part of the TE Sensor Solutions business unit led by President David Coughlan. The Sensor Solutions business unit reports into TE's Transportation Solutions segment.

FORWARD-LOOKING STATEMENTS
This release contains certain "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to risks, uncertainty and changes in circumstances, which may cause actual results, performance, financial condition or achievements to differ materially from anticipated results, performance, financial condition or achievements. All statements contained herein that are not clearly historical in nature are forward-looking and the words "anticipate," "believe," "expect," "estimate," "plan," and similar expressions are generally intended to identify forward-looking statements. We have no intention and are under no obligation to update or alter (and expressly disclaim any such intention or obligation to do so) our forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by law. Examples of factors that could cause actual results to differ materially from those described in the forward-looking statements include, among others, business, economic, competitive and regulatory risks, such as conditions affecting demand for products, particularly in the automotive industry and the telecommunications networks and consumer devices industries; competition and pricing pressure; fluctuations in foreign currency exchange rates and commodity prices; natural disasters and political, economic and military instability in countries in which we operate; developments in the credit markets; future goodwill impairment; compliance with current and future environmental and other laws and regulations; and the possible effects on us of changes in tax laws, tax treaties and other legislation. More detailed information about these and other factors is set forth in TE Connectivity Ltd.'s Annual Report on Form 10-K for the fiscal year ended Sept. 27, 2013 as well as in our Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other reports filed by us with the U.S. Securities and Exchange Commission.

ABOUT TE CONNECTIVITY
TE Connectivity (NYSE: TEL) is a $13 billion world leader in connectivity. The company designs and manufactures products at the heart of electronic connections for the world's leading industries including automotive, energy and industrial, broadband communications, consumer devices, healthcare, and aerospace and defense. TE Connectivity's long-standing commitment to innovation and engineering excellence helps its customers solve the need for more energy efficiency, always-on communications and ever-increasing productivity. With nearly 90,000 employees in over 50 countries, TE Connectivity makes connections the world relies on to work flawlessly every day. To connect with the company, visit: www.TE.com.

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SOURCE TE Connectivity Ltd.