Bel Fuse Inc. (NASDAQ:BELFA) (NASDAQ:BELFB) announced today that it has relocated its European R&D headquarters for integrated electronic modules to a new high technology center in Maidstone, England.
Dan Bernstein, Bel's President and CEO, said, "Module products are the fastest growing segment of our business. As we turn our focus away from commodity products, value added product development is key to the success of our growth strategy. Our new location in Maidstone, in the Turkey Mill development, is ideal for our needs. Well recognized as a center for top engineering talent in the U.K., the new location will enable us to support more effectively our growing international customer base."
Bel (www.belfuse.com) and its divisions are primarily engaged in the design, manufacture, and sale of products used in networking, telecommunications, high-speed data transmission, commercial aerospace, military, transportation, and consumer electronics. Products include magnetics (discrete components, power transformers and MagJack® connectors with integrated magnetics), modules (DC-DC converters, integrated analog front-end modules and custom designs), circuit protection (miniature, micro and surface mount fuses) and interconnect devices (micro, circular and filtered D-Sub connectors, passive jacks, plugs and high-speed cable assemblies). The Company operates facilities around the world.
Except for historical information contained in this press release, the matters discussed in this press release (including the statements regarding the office relocation) are forward looking statements that involve risks and uncertainties. Among the factors that could cause actual results to differ materially from such statements are: the market concerns facing our customers; the continuing viability of sectors that rely on our products; the effects of business and economic conditions; capacity and supply constraints or difficulties; product development, commercializing or technological difficulties; the regulatory and trade environment; risks associated with foreign currencies; uncertainties associated with legal proceedings; the market's acceptance of the Company's new products and competitive responses to those new products; and the risk factors detailed from time to time in the Company's SEC reports. In light of the risks and uncertainties, there can be no assurance that any forward-looking statement will in fact prove to be correct. We undertake no obligation to update or revise any forward-looking statements.