Adval Tech Holding AG

M&A Activity • Jul 25, 2013

News Details

Ad-hoc | 25 July 2013 07:00

Adval Tech,Group is selling its Mexico business and its medical technology activities in China

Adval Tech Group is selling its Mexico business and its medical technology activities in China
Niederwangen, July 25, 2013, 7.00 a.m. – The Adval Tech Group is selling its Mexico business and its medical technology activities in China to the Hudson (Wisconsin)-based US company Phillips-Medisize. In line with its new strategy, the Adval Tech Group is concentrating on mold making and on selected activities in the components business. Swiss Capital Corporate Finance AG, Zurich was commissioned to investigate possible joint venture and sale options. Adval Tech has now found the perfect buyer in the form of Phillips-Medisize Corporation, which is purchasing the Mexico site (Omni Manufacturing Services S.A. de C.V, Querétaro) and Adval Tech’s medical technology activities in China (Adval Tech Medical (Suzhou) Co. Ltd.). Both parties have agreed not to disclose the purchase price. Phillips-Medisize is expected to take on the entire workforce of approx. 350 people. The sale does not affect the activities of the Grenchen-based subsidiary Teuscher Kunststofftechnik AG.
Contact Hans Dreier, Head IT/Legal/Logistics, Member of the Board of Directors and of Group Executive Management, phone +41 31 980 82 89, hans.dreier@advaltech.com Background information about the Adval Tech Group Adding value through innovations – that’s what Adval Tech stands for. As a global technology and process partner Adval Tech focuses on the complementary technologies of metal stamping and forming and plastic injection molding. In selected markets in the automotive, medical technology and consumer goods sectors, Adval Tech is a leading global supplier of series parts, subassemblies, systems and tools. As a supplier and value-adding partner, Adval Tech covers the entire value chain: from product design and the development of series parts through construction and production of the necessary tools and molds to entire production systems and the resulting manufacture of components. Adval Tech operates in the markets under the names AWM, FOBOHA, Omni, QSCH, Styner+Bienz and Teuscher. Background information about Phillips-Medisize Corp. Phillips-Medisize is a leading global outsource provider of design and manufacturing services to the medical (medical device, diagnostics, and drug delivery products) and commercial (automotive, consumer, and defense) markets. The company has annual sales of just under $500 million with 75% of the total revenue coming from drug delivery, medical device and diagnostic products. Phillips-Medisize partners with its customers to provide design and development services which accelerate speed to market of innovative products and then work with its customers to deploy advanced automated assembly and quality control technologies which reduce manufacturing cost while improving quality. The company’s core advantage is the knowledge of its people to integrate design, molding, and automation to drive low cost and high quality manufacturing solutions. Phillips-Medisize Corporation is headquartered in Hudson, WI and employs over 2,100 people in 12 locations throughout the United States, Europe and China. The company also has design centers in Wisconsin, California, and The Netherlands. Diary August 29, 2013: Media release on semiannual results 2013 March 2014: Announcement of the results for the 2013 financial year April 29, 2014: Conference for financial analysts and press conference on annual report 2013 May 22, 2014: General meeting of shareholders in Bern