Thomas & Betts history

To that end, in 1912 they purchased the Standard Electric Fittings Company of Stamford, Connecticut.

Critical to that core was the competitive edge that American Electric would contribute to T&B. Founded in 1958, American Electric had undergone a series of transformations and buyouts.

Building on its existent Canadian presence, a new international division was established in 1962.

In 1968, when American Electric still focused on its original business of manufacturing lighting and related products to the utility market, it was acquired by ITT Corp.

Moreover, Ouest Electronic Connecteurs, a French maker of electronic connectors and custom components of which T&B had acquired 80 percent in 1982, provided additional R&D and manufacturing capabilities in Europe.

The 1989 acquisition of Holmberg Electronics Corp., a manufacturer of electronic connectors, was more in line with T&B's historical field of specialty.

On January 1, 1994, Clyde R. Moore became president and COO. He brought to the post experience as previous president of Thomas & Betts Electrical Division and president of American Electric before the acquisition.

According to Dunnigan, "the actions covered by these charges are expected to result in savings of approximately $8 million in 1995 and over $20 million annually in subsequent years."