Cicor successfully closes the acquisition of Axis Electronics Ltd. - Capital increase from authorized capital
December 01, 2021 at 01:04 am EST
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EQS Group-Ad-hoc: Cicor Technologies Ltd / Key word(s): Capital Increase/Mergers & Acquisitions
Cicor successfully closes the acquisition of Axis Electronics Ltd. - Capital increase from authorized capital
01-Dec-2021 / 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, December 01, 2021 - Cicor Group (SIX Swiss Exchange: CICN)announces today that the acquisition of 100% of the shares of the UK-based Axis Electronics Ltd. (Axis) has been successfully closed.
Cicor will integrate Axis into the global engineering and manufacturing network of the Electronic Solutions Division and thereby further strengthen Axis' advantages. This will increase Cicor's market share in the UK and across Europe. The acquisition will increase Cicor Group's sales by approximately 15% on an annualized basis and result in a sustainable increase in EBITDA margin already starting in 2022. In the actual financial year 2021, the acquisition of Axis will contribute approximately CHF 2 to 3 million to Cicor's annual sales.
With the acquisition of Axis, Cicor Group strengthens one of its strategic target markets and becomes one of the top 5 EMS providers in the aerospace and defence sector in Europe. The continuity for the long-standing blue-chip customer base will be ensured by the continued operation of the Bedford site and the inclusion of all 180 employees.
In direct relation to the acquisition of Axis, Cicor carried out a capital increase from authorized capital on November 30, 2021. The newly issued 167,450 shares with a nominal value of CHF 10 each are part of the financing of the purchase price. As a result of the capital increase, Cicor's share capital increases from currently CHF 29,020,920 by CHF 1,674,500 to CHF 30,695,420.
Contact:
Alexander Hagemann
CEO
Tel. +41 71 913 73 00
Email: media@cicor.com
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 (HDIâs) 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.
CICOR TECHNOLOGIES LTD. 
