JERSEY CITY, N.J.--(BUSINESS WIRE)--Bel Fuse Inc. (NASDAQ:BELFA)(NASDAQ:BELFB) announced today the opening of the company's newest R&D center, located at its TRP Connector division in Changping, China.
Bel acquired TRP, formerly the Transpower magnetics business of TE Connectivity, on April 1, 2013. "The TRP acquisition solidified Bel's position as a world leader in integrated connector modules-ICMs. We intend to build on our already strong position in this important market. Accordingly, one of our first steps after acquiring the Changping facility was to increase our investment in R&D, with a major upgrade of the facility completed this month. By advancing our technology, improving our product development capabilities and shortening our response time, we expect our new R&D facility to make an important contribution to our strategy to increase Bel's growth and profitability in both the short and long term," said Daniel Bernstein, Bel's President and CEO.
TRP's two story, 18,700 square foot R&D facility features a new reception area for customers and suppliers, additional engineering laboratories, meeting rooms and office space to accommodate future expansion.
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 and AC-DC power supplies, 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, fiber optic 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 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; difficulties associated with integrating recently acquired companies; 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.