Cicor intends to strengthen its presence in Germany with an acquisition
January 17, 2022 at 01:04 am EST
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Cicor Technologies Ltd / Key word(s): Mergers & Acquisitions
Cicor intends to strengthen its presence in Germany with an acquisition
17-Jan-2022 / 07:01 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
Bronschhofen, January 17, 2022 - Cicor Group (SIX Swiss Exchange: CICN) announced today that discussions are currently being held with the owners of SMT ELEKTRONIK GmbH from Dresden, Germany, with the target of acquiring the company's Electronic Manufacturing Services (EMS) activities.
In the event of a successful conclusion of the transaction, SMT ELEKTRONIK GmbH will collaborate very closely with the Cicor site RHe Microsystems GmbH from nearby Radeberg. Cicor thereby intends to expand its competencies in the areas of Electronic Manufacturing Services (EMS) and microelectronic assembly and to significantly increase its position in the German market for sophisticated electronics. Furthermore, the Cicor Group considers additional investments at the location in Saxony to further strengthen its presence in one of the most important microelectronics and IT clusters in Europe.
SMT ELEKTRONIK GmbH employs a total of 145 people in Dresden and generated sales of EUR 22.4 million with a net profit of EUR 1.2 million in financial year 2020. The company's EMS activities, which Cicor intends to acquire, are a major contributor to these key figures.
The closing of the transaction is subject to usual conditions and regulatory approval procedures.
Contact:
Cicor Management AG
Gebenloostrasse 15
9552 Bronschhofen
Switzerland
The Cicor Group is a globally active development and manufacturing partner with innovative technology solutions for the electronics industry. With about 2200 employees at eleven production sites, Cicor offers highly complex printed circuit boards, hybrid circuits and printed electronics as well as comprehensive electronic manufacturing services (EMS) including microelectronic assembly and plastic injection molding. Cicor sup-plies customized products and services from design to the finished product from one source. The shares of Cicor Technologies Ltd. are listed on the SIX Swiss Exchange (CICN). For further information please visit the website www.cicor.com.
Cicor Technologies Ltd is a Switzerland based company engaged in the electrical engineering and electronics sector. The Company operates though four divisions: Cicor Printed Circuit Boards; Cicor Microelectronics; Cicor Electronic Solutions, and Asia division. The Cicor Printed Circuit Boards (PCB) division develops and produces printed circuit boards with the usage of high density interconnects (HDI's) and reel-to-reel technology. The Cicor Microelectronics division offers a range of microelectronic manufacturing from various thick and thin film coating technologies through micro assembly and up to delivery of tested and qualified electronic components. The Cicor Electronic Solutions division provides a range of production options for PCB assembly, system assembly, box-building and switch-box construction, cable assembly, tool making and injection molding. The Asia division focuses on the provision of the Company's technology to the Asian market.