Date: 16/09/2012

Belden sells its consumer electronics assets in China

Belden Inc. has entered into a definitive agreement to sell its consumer electronics assets in China to Shenzhen Woer Heat-Shrinkable Material Co., Ltd. for consideration of approximately $43 million.

"I'm pleased to announce this agreement with Shenzhen Woer Heat-Shrinkable Material Co., Ltd. We believe this is a positive outcome that will benefit Belden shareholders by returning our focus to areas of strategic relevance in Asia. The sale of these assets will reduce 2013 revenue by approximately $100 to $120 million with no significant impact to operating profit. Additionally, we expect to incur non-cash charges of approximately $25 million in 2012 which will be excluded from our adjusted results." said John Stroup, Belden's President and CEO.

Belden expects the sale, which is subject to approval by Chinese regulatory authorities, to close in 2012.