November 2017 Newsletter
State of The Industry
Business for the electronic connector industry has been very strong so far for 2017 with sales for the industry projected to grow by some 7 to 8% over 2016 sales of 54 billion. Interestingly the top ten connector manufactures in the world accounted for almost 60% of global connector sales last year, with US based companies claiming the top 4 positions with some 22 billion in sales or about 41% of the worlds connector sales. Asian based companies comprised the other 6 of the top ten spots on the list 4 from Japan one from China and one from Taiwan. The demand for new connectors will continue to grow as electronics find their way into all kinds of new applications from refrigerators to coffee pots. All and all demand for all kinds of new connectors should keep the electronic connector industry going strong well into the future.
Mergers & Acquisitions & Other News
Hellermann Tyton in Milwaukee, WI is a global leader in cable management and protection products, identification systems and network connectivity solutions, has signed an agreement with TTI, Inc. in Fort Worth, TX a Berkshire Hathaway company, an authorized specialty distributor of interconnect, passive and electromechanical (iP&E) components and the distributer of choice for industrial and consumer electronics manufacturing worldwide. The new alliance comprises a wide range of Hellerman Tyton’s innovative, commercial-grade cable ties and fasteners, electrical installation and insulation products, applications tools, cable protection and identification systems. Hellerman Tyton cable management products will be listed and stocked by TTI, Inc. of Fort Worth, Texas with immediate availability.
Positronic, in Springfield, MA, a leading global manufacturer of high-reliability electronic connectors, has made a significant investment in Singapore-based Plasmotech Pte Ltd. Plasmotech serves the automotive, electrical component, electronic connector and general industrial markets with engineered solutions centered on high-precision, mass-produced molded products. With nearly 200 employees, the company has the capabilities, experience and resources to bring high-quality products from the drawing board to any global customer base at competitive prices and lead times. Plasmotech has been assessed and certified as meeting the requirements of both ISO 9001:2008 and ISO/TS 16949:2009. Positronics has manufactured high-reliability electronic connectors, accessories and build-to-print cable assemblies since 1966. Its primary markets include military, space, commercial aerospace, medical, industrial, test and rail. The company’s core capabilities include solid machined contacts with low resistance and high conductivity for use in standard and quick-turn custom connectors.
TPC Wire & Cable Corp., Macedonia, OH, an innovative producer of wire, cables and connectors used in harsh industrial environments, announced the completed acquisition of ElectraCord, Inc, Massillon OH. ElectraCord is a manufacturer of custom-molded cable assemblies, power cords, and cord sets for original equipment manufacturers serving a variety of end markets. In making the announcement, the TPC president & CEO Jeff Crane explained, “The acquisition provides unique fabrication and manufacturing capabilities that will help us expand our product and service offering to OEM customers in key regions of the country”. Their company’s strong reputation with customers and suppliers provides a great growth platform.
London, UK, an affiliate of Sun European Partners, LLP today, announces that it has acquired C & K Holdings, Inc., one of the world’s most trusted brands of high-quality electromechanical switches for an undisclosed sum. C & K was founded in 1928 and has one of the industry’s broadest product portfolios, offering more than 55,000 standard products and 8.5. million switch combinations to companies that design, manufacture and distribute electronics products. The company is headquartered in Newton, MA, with more than 1,500 employees working at its global design centers in Newton, Dole, France and Huizhou, China.
Weidmuller Group of Detmold, Germany, an international market leader in Industrial Connectivity and Automation announces the acquisition of the W Interconnections group of companies in the USA, Canada and Mexico from Rockwell Automation, Inc, Milwaukee, WI, effective October 2017. The W Interconnections group sells products for Industrial Connectivity and Automation. Weidmuller strengthens its global presence and customer proximity as an international market leader in Industrial Connectivity and Automation. This acquisition supports Weidmuller’s growth strategy in Industrial Connectivity, Communication and Digitalization and reflects the long-term commitment of Weidmuller to the NAFTA market. Weidmuller will operate the business from the current sites in Puebla (Mexico) and welcomes colleagues who will contribute with their best application competence.
Infinite Electronics, based in Irvine, CA, a supplier of engineering-grade wired and wireless connectivity products, announces that is has acquired Smiths Interconnect’s Microwave Telecoms business (SMT) from Smiths Group, plc, a London based global technology company. SMT is comprised of the well-recognized solutions-driven Kaelus, PolyPhaser, Transtector Systems and RadioWaves brands. Each of these companies provide a unique set of capabilities and product offerings deployed in critical communications networks worldwide, while also setting global standards through innovations and customer service. SMT is committed to ensuring reliable communications network performance from the tower of the core. They bring strong engineering capabilities, world class manufacturing operations, a diversified set of products that are poised for growth, and have strategic customer relationships with many of the world’s largest telecom operators. This acquisition will also provide the SMT companies a unique opportunity to more quickly serve its global customer base with a broader product offering through the adoption of Infinite’s urgent availability service model. SMT’s product lines are perfectly aligned to also support new markets such as defense, medical and transportation, industries already widely served by Infinite portfolio companies.
Counter Offers, Accept or Reject?
When you hand in your resignation, your employer might ask what they can do to change your mind. They might make you a counter offer, even if you’ve accepted employment elsewhere. Focus on the reason you decided to leave your current job before making a decision. It is important when considering a counter offer that you always keep in mind what your reasons were for pursing a job with another company in the first place. Putting salary aside for a moment the new position could offer:
- Better benefits
- Flexible working hours
- Opportunity to travel on an International basis
- Greater opportunities for career development
- More interesting work
- Opportunity to acquire new skills thru training or hands on experience
Whatever your reasons are for wanting to leave your current employer it is crucial that you remember what those reasons are and think rationally about what is best for you as an individual, and ask yourself this, “why did it take your resignation for your current employer to appreciate your value to the company?”. The counter offer might match or even exceed the pay at the new job. If that’s the main reason you’re quitting, consider accepting the counter offer to stay. If the reason you are leaving involves more than salary, you’ll probably still want to resign. The bottom line be prepared for the possibility of a counter offer, even if it doesn’t come, it’s good to be prepared.
On the Move
Drop me a line, call, or email me if you have had a change of address, phone number, email address, or employment since we last spoke, so that we can stay in touch.
If you are near retirement, retired, no longer in the electronic connector industry, or do not wish to receive this newsletter, please let me know and I will remove your name from the mailing list.
Keeping Our Data Base Current
To keep up with our growing database, and in order to be able to contact you with potential career opportunities, we must have an electronic copy of your resume on file. Therefore, if you have not already emailed me a copy of your most recent resume, please do so in Word format. Your resume will be kept in our files and never be sent anywhere unless we first speak with you about the potential opportunity and get your
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