HICKORY, N.C., Aug. 11 /PRNewswire-FirstCall/ -- CommScope, Inc.
(NYSE: CTV) today issued the following statement regarding its proposed
acquisition of Andrew Corporation (Nasdaq: ANDW):
'After careful consideration with our advisors, CommScope has decided not
to pursue its proposal to acquire Andrew Corporation at the present time.
CommScope's operational excellence and financial discipline have made us a
global leader in the 'last mile' of telecommunications. We intend to continue
building upon our leadership position and we are confident that CommScope is
poised to continue creating value for its stockholders.'
About CommScope
CommScope (NYSE: CTV) (www.commscope.com) is a world leader in the design
and manufacture of 'last mile' cable and connectivity solutions for
communication networks. Through its SYSTIMAX(R) Solutions(TM) and Uniprise(R)
Solutions brands CommScope is the global leader in structured cabling systems
for business enterprise applications. It is also the world's largest
manufacturer of coaxial cable for Hybrid Fiber Coaxial applications. Backed
by strong research and development, CommScope combines technical expertise and
proprietary technology with global manufacturing capability to provide
customers with high-performance wired or wireless cabling solutions.
Forward-Looking Statements
This press release contains forward-looking statements that are based on
information currently available to management, management beliefs, as well as
on a number of assumptions concerning future events. Statements made in the
future tense, and statements using words such as 'intend' and 'confident' and
similar expressions are intended to identify forward-looking statements.
Forward-looking statements are not a guarantee of performance and are subject
to a number of risks and uncertainties, many of which are difficult to predict
and are beyond the control of CommScope. These risks and uncertainties could
cause actual results to differ materially from those expressed in or implied
by the forward-looking statements, and therefore should be carefully
considered. Relevant risks and uncertainties generally applicable to
CommScope include, but are not limited to: changes in cost and availability of
key raw materials and our ability to recover these costs from our customers
through price increases; the challenges of executing our previously announced
global manufacturing initiatives; customer demand for our products and the
ability to maintain existing business alliances with key customers or
distributors; the risk that our internal production capacity and that of our
contract manufacturers may be insufficient to meet customer demand for our
products; the risk that customers might cancel orders placed or that orders
currently placed may affect order levels in the future; continuing
consolidation among our customers; competitive pricing and acceptance of our
products; industry competition and the ability to retain customers through
product innovation; possible production disruption due to supplier or contract
manufacturer bankruptcy, reorganization or restructuring; successful ongoing
operation of our vertical integration activities; ability to achieve expected
sales, growth and earnings goals; costs of protecting or defending our
intellectual property; ability to obtain capital on commercially reasonable
terms; regulatory changes affecting us or the industries we serve; legal
proceedings may be commenced by or against CommScope. For a more complete
description of factors that could cause such a difference, please see
CommScope's filings with the Securities and Exchange Commission, which are
available on CommScope's website or at www.sec.gov. In providing forward-
looking statements, the Company does not intend, and is not undertaking any
duty or obligation, to update these statements as a result of new information,
future events or otherwise.
SOURCE CommScope, Inc.