Jun 29, 2007
BERWYN, Pa., June 29 /PRNewswire-FirstCall/ -- At the close of business today, Tyco Electronics Ltd., (NYSE: TEL)(BSX: TEL) officially becomes an independent, publicly-traded company, completing its split from Tyco International. Tyco Electronics, which has been trading under the ticker symbol TEL on a when-issued basis since June 14, 2007, begins trading the regular way on the New York Stock Exchange (NYSE) on Monday, July 2, 2007.
Tyco Electronics' Chief Executive Officer Tom Lynch said, "This is an exciting time for our nearly 100,000 Tyco Electronics employees around the world. We look forward to operating as an independent company - serving our customers and growing our business in ways that make the most sense for Tyco Electronics and its shareholders. We are a $12.8 billion global provider of electronic components, network solutions and wireless systems, backed by more than 60 years of innovation, excellence and experience."
Representatives from the company - including Lynch, members of the senior leadership team, and several outstanding employees from business units around the world - are expected to ring the opening bell at the NYSE on Wednesday, July 11, 2007.
The company conducts its business through three primary operating segments:
Electronic Components is the world's largest supplier of passive electronic components, which includes connectors and interconnect systems, relays, switches, circuit protection devices, touch screens, sensors and wires and cable. Tyco Electronics' products are used primarily in the automotive, computer, consumer electronics, communication equipment, appliance, aerospace and defense, industrial machinery and instrumentation markets.
Network Solutions is a global supplier of infrastructure components for the telecommunications and energy markets. Its products include connectors, above- and below-ground enclosures, heat shrink tubing, cable accessories, surge arrestors, fiber optic cabling, copper cabling and racks for copper and fiber networks.
Wireless Systems is an innovator of wireless technology for critical communications, radar and defense applications. These products include radio frequency components and subassembly solutions, radar sensors, radio frequency identification components, microwave subsystems and land mobile radio systems and networks - sold primarily to the aerospace and defense, public safety, communication equipment and automotive markets.
Tyco Electronics also includes several other businesses, which manufacture, distribute, maintain and install power systems and undersea telecommunication systems.
ABOUT TYCO ELECTRONICS
Tyco Electronics Ltd., is a leading global provider of engineered electronic components, network solutions and wireless systems, with 2006 sales of US$12.8 billion to customer locations in more than 150 countries. Tyco Electronics designs, manufactures and markets products for customers in industries from automotive, appliances and aerospace and defense to telecommunications, computers and consumer electronics. With over 8,000 engineers and worldwide manufacturing, sales and customer service capabilities, Tyco Electronics' commitment is its customers' advantage. More information on Tyco Electronics can be found at http://www.tycoelectronics.com/ .
SOURCE: Tyco Electronics Ltd.
CONTACT: Media, Sheri Woodruff, +1-610-893-9555, Office, +1-609-933-
9243, Mobile, firstname.lastname@example.org, or Investors, John Roselli,
+1-610-893-9559, Office, or Keith Kolstrom, +1-610-893-9551, Office, all for
Tyco Electronics Ltd.
Web site: http://www.tycoelectronics.com/