Bel Fuse owns 5% of Power-One

By Lisa Kerner

Charlotte, N.C., Feb. 25 - Bel Fuse Inc. reported the purchase of 4,370,052 shares of Power One Inc. for an initial 5% stake in the company.

The shares were acquired by Bel Fuse's wholly owned subsidiary, Bel Ventures, between Feb. 8 and Feb. 22 for a total of $10.12 million paid from working capital, according to a schedule 13D filing with the Securities and Exchange Commission.

On Feb. 14, Bel Fuse representatives tried to arrange a meeting with Power One's senior management to discuss how they might work together. No meeting has been held to date.

Bel Fuse is a Jersey City, N.J., electronics company.

Power-One designs and manufactures power conversion and power management products. The company is located in Camarillo, Calif.

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