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Thursday, Sep 13
2012, 7:33 PM
Belden (BDC) is selling its consumer electronics assets in China to Shenzhen Woer...
Belden (BDC) is selling its consumer electronics assets in China to Shenzhen Woer Heat-Shrinkable Material Co. for around $43M, as it turns to focus on areas it sees of strategic relevance in Asia. The sale will reduce FY13 revenue by approximately $100M - $120M with no significant impact to operating profit. Additionally, it expects to close in FY12, and to incur non-cash charges of approximately $25M. Shares -0.8% AH.