Preformed Line Products Acquires Electric Hardware Provider Delta Conectores

Preformed Line Products Company PLPC has acquired Delta Conectores, S.A. de C.V. The financial details of the transaction were not disclosed.
Delta Conectores designs and manufactures substation connector systems and accessory hardware for high-voltage AC systems in Mexico.
PLPC expects the acquisition to expand its operational and technical capabilities in the region.
The company held $30.1 million in cash and equivalents as of June 30, 2022.
"The addition of Delta to the PLP family expands our existing substation product offering. They bring a high level of design expertise and bolster our manufacturing capabilities in North America," said Ryan Ruhlman, VP of Marketing & Business Development at PLP.
Price Action: PLPC shares are trading higher by 1.07% at $73.67 on the last check Monday.