MOLX Molex Incorporated (MM)

Molex Incorporated (NASDAQ:MOLX) (NASDAQ:MOLXA), a global electronic components company, today announced that mediation sponsored by the French government between the company and the elected employee representatives at its site in Villemur-sur-Tarn, France has ended successfully. Employees at the company’s site in Villemur-sur-Tarn have voted in favor of the social plan Molex offered. And, after having received support from the French government, Molex has agreed to participate in a reindustrialization project with HIG Capital that will preserve jobs in the Villemur area through HIG Capital’s operations.

"Our goal has always been to provide a very fair social plan because we care about our employees," said Eric Doesburg, Co-Gérant, Molex Automotive Sarl. "The Molex business in Villemur will close effective October 1, 2009. However, because of the cooperation we have received from the French government, Molex has agreed to participate in a reindustrialization project with HIG Capital that will preserve jobs in Villemur area through HIG's operations. We are very satisfied with the resolution of the situation and believe we have acted responsibly towards our employees, the community of Villemur and the French government."

Molex said its support of this project will come in the form of a contribution of assets for HIG's operations, a cash investment and a product supply agreement. This project is in addition to other reindustrialization projects that Molex is pursuing independently.

Molex Incorporated is a global manufacturer of electronic components, including electrical and fiber optic interconnection products and systems, switches and integrated products.

Editor’s note: Molex is traded on the NASDAQ Global Select Market (MOLX and MOLXA) in the United States and on the London Stock Exchange. The Company’s voting common stock (MOLX) is included in the S&P 500 Index.

Molex Incorporated (MM) (NASDAQ:MOLX)
Historical Stock Chart
Von Jun 2024 bis Jul 2024

Molex Incorporated (MM) (NASDAQ:MOLX)
Historical Stock Chart
Von Jul 2023 bis Jul 2024