Wichita, Kan. (Manufacturing.net) — Koch Industries, Inc., has announced the completion of its $7.2 billion acquisition of global electronic components company Molex Incorporated (NASDAQ: MOLX). Molex is now an indirect wholly-owned subsidiary of Koch Industries, and will retain its name, headquarters in Lisle, Ill., and current management team as it moves forward.
Charles Koch, chairman and chief executive officer of Koch Industries, said in a statement: “We’re pleased to welcome Molex’s 36,000 talented leaders and employees to Koch. Molex is a great company that creates real value for its customers and society and matches up well with our culture and core capabilities.”
Molex was incorporated 75 years ago and currently manufacturers electronic, electrical and fiber optic interconnection systems. With 45 manufacturing locations in 17 countries, it employs more than 36,000 people globally. The company makes about 100,000 products for mobile devices, consumer electronics, vehicles, medical devices, aerospace firms and the military, among other sectors.
Martin Slark, chief executive officer of Molex, added: “Now that the transaction has closed, we are eager to move forward with our new owners. We believe that combining the global strengths of Molex and Koch will create an exciting future for all our stakeholders.”