Bel Fuse sees Power-One as a 'perfect partner'

By Lisa Kerner

Charlotte, N.C., March 14 - Bel Fuse Inc. chief executive officer Daniel Bernstein reached out to Power-One, Inc. in a March 14 letter outlining why Bel Fuse would make a "perfect partner" for the company. The letter was included in a company news release.

According to Bernstein, the strategic fit between Bel Fuse and Power-One is ideal because the companies have similar product families and complementary technologies.

In addition, combining the two companies would result in "significant opportunities" for synergies and would result in "the broadest range of products in the industry."

In closing, Bernstein pushed for a meeting with Power-One chairman Jay Walters and CEO Richard Thompson.

On Feb. 25, Bel Fuse reported the purchase of some 4.37 million shares of Power One for an initial 5% stake in the company.

The shares were acquired by Bel Fuse's wholly owned subsidiary, Bel Ventures, for a total of $10.12 million, according to a schedule 13D filing with the Securities and Exchange Commission.

Bel Fuse, a Jersey City, N.J., electronics company, said it tried to arrange a meeting with Power One's senior management to discuss how they might work together. However, no meeting has been held to date.

Power-One designs and manufactures power conversion and power management products. The company is located in Camarillo, Calif.

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