Molex will agree to sell French plant, industry minister says

Molex Inc. will sign an accord to sell its French site and existing machinery to HIG Capital "in coming hours," Industry Minister Christian Estrosi said today.

The French state will lend HIG Capital 6.6 million euros to invest in the plant and Molex will agree to buy some of its output for a two-year period, the minister told journalists at a briefing held at the French finance ministry.

HIG Capital has agreed to hire as many as 60 people at the site in Villemur-sur-Tarn in southwest France.