HICKORY, NC, April 30, 2008—CommScope, Inc. (NYSE: CTV), a global leader
in infrastructure solutions for communications networks, has completed the previously
announced divestiture of its minority interest in Andes Industries, Inc.
Pursuant to the agreement approved by the US Department of Justice, CommScope
has transferred its equity and other financial interests in Andes and its affiliates,
as well as certain other related assets, to Andes, and each of the parties has
released all claims against each other, including claims relating to prior transactions
between Andrew Corporation and Andes. Andes also will make payments of
up to $16 million to CommScope, but only upon the occurrence of certain extraordinary
events, such as the sale of Andes to a third party, during a two-year period
following the completion of the agreement. The divestiture complies with
terms of the settlement agreement among CommScope, Andrew and the DOJ that allowed
CommScope to complete its acquisition of Andrew in December 2007.
About CommScope
CommScope, Inc. (NYSE: CTV – www.commscope.com) is a world leader in infrastructure
solutions for communication networks. Through its Andrew® brand, it
is a global leader in radio frequency subsystem solutions for wireless networks.
Through its SYSTIMAX® and Uniprise® brands, CommScope is the global
leader in structured cabling systems for business enterprise applications. It
is also the premier manufacturer of coaxial cable for broadband cable television
networks and one of the leading North American providers of environmentally
secure cabinets for DSL and FTTN applications. Backed by strong research
and development, CommScope combines technical expertise and proprietary technology
with global manufacturing capability to provide customers with infrastructure
solutions for evolving global communications networks in more than 130 countries
around the world.
END
Investor Contact: Phil Armstrong, CommScope +1
828-323-4848
News Media Contact: Rick Aspan, CommScope +1 708-236-6568 or publicrelations@commscope.com
This press release includes forward-looking statements that are based on
information currently available to management, management’s beliefs, as well
as on a number of assumptions concerning future events. Forward-looking
statements are not a guarantee of performance and are subject to a number of
uncertainties and other factors, which could cause the actual results to differ
materially from those currently expected. For a more detailed description
of the factors that could cause such a difference, please see CommScope’s filings
with the Securities and Exchange Commission. In providing forward-looking
statements, the company does not intend, and is not undertaking any obligation
or duty, to update these statements as a result of new information, future events
or otherwise.
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