Date Posted: 12/23/2009
Arrow Electronics closes purchase of AE Petsche
Arrow Electronics closes purchase of AE Petsche, putting it in the defense business
MELVILLE, N.Y. (AP) -- Arrow Electronics Inc. said on Monday that it has finished its purchase of A.E. Petsche Co., which makes specialty wires, cables and harnesses for aerospace and defense companies.
Terms of the purchase were not disclosed.
Arrow said that Petsche, which is based in Arlington, Texas, and has about 250 employees, is expected to have 2010 sales of over $200 million, and should add 10 cents to 12 cents per share to Arrow earnings.
Arrow supplies industrial and commercial users of electronic components.
Arrow shares rose 81 cents, or 2.9 percent, to close at $28.69 on Monday.
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