LIMERICK, Pa.--(BUSINESS WIRE)--June 30, 2004--Teleflex
Incorporated (NYSE:TFX) announced today that The Heico Companies, LLC
has acquired the assets of the National Strand galvanized and
stainless steel strand product line from Teleflex in a cash
transaction valued at $9.2 million. With $19 million in annual sales,
National Strand products primarily serve the electric utility, cable
television and telecommunications industries. Teleflex acquired the
National Strand business in 2002 as part of the acquisition of
Southwest Wire Rope. Heico is the parent company of Davis Wire
Corporation, the largest supplier of wire used in National Strand
products.
About The Heico Companies LLC
The Heico Companies, LLC was founded in 1979 to acquire businesses
where it can leverage its management team, experience and
diversification to create value. Heico owns companies within a diverse
set of industries including telecommunications, aerospace, plastics,
food production and material handling equipment. These businesses,
which operate throughout the United States and several international
locations, produce a wide array of products, systems and services.
About Teleflex
Teleflex is a diversified industrial company with annual revenues
of more than $2 billion. The company designs, manufactures and
distributes quality engineered products and services for the
automotive, medical, aerospace, marine and industrial markets
worldwide. Teleflex employs more than 19,000 people worldwide who
focus on providing innovative solutions for customers. Additional
information about Teleflex can be obtained from the company's website
at www.teleflex.com.
Forward-looking information:
Statements in this news release, other than historical data, are
considered forward-looking statements under the Private Securities
Litigation Reform Act of 1995. These statements are subject to various
risks and uncertainties that could cause actual results to differ from
those contemplated in the statements. These factors are discussed in
the company's Form 10-K and other Securities and Exchange Commission
filings.
CONTACT: Teleflex Incorporated
Julie McDowell, Vice President Corporate Communications
610-948-2836
SOURCE: Teleflex Incorporated