Tyco diverse businesses into three companies

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Tyco announced a plan to divide its current portfolio of diverse businesses into three separate, publicly traded operating companies – Tyco Electronics, the world’s largest passive electronic components manufacturer; Tyco Healthcare, a global healthcare leader in medical devices, technology and disposables; and Tyco International, a diversified global business with leading positions in residential and commercial security, fire protection and industrial infrastructure products and services, accordingly official press release. "In the past couple of years, we have made great progress in integrating and strengthening all of the businesses in the company and creating a strong balance sheet. As we looked to the future, we concluded that the best plan for our businesses, shareholders, and customers was to divide the company into three independent companies. This will enable each new company to achieve its full potential by focusing on its core values and strengths.", said Tom Lynch, chairman and CEO of Tyco Electronics. "Tyco Electronics will have a strong financial position to invest in its business and will be very well positioned to meet the needs of our customers. We expect this process to take approximately one year.", said Juergen Gromer, Vice Chairman and President.