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.
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.
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.