- Preformed Line Products Company (NASDAQ: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.
Nasdaq, S&P 500 Futures Edge Higher As Traders Bet On Fed Pause: Analyst Says Relief Rally Could Be In The Cards
US stocks await on Fed cues Wednesday amid the lean patch triggered by fears about inflation and in turn a 'higher for longer rate' outlook.
