Adval Tech Holding AG

M&A Activity • Sep 4, 2018

News Details

Ad-hoc | 4 September 2018 18:30

Adval Tech sells subsidiary in Thailand

Adval Tech sells subsidiary in Thailand
Niederwangen, September 4, 2018, 6.30 p.m. – The Adval Tech Group is selling its subsidiary in Thailand, Adval Tech (Thailand) Co. Ltd, to Sunningdale Tech Ltd, Singapore. The parties signed the sale and purchase agreement today, September 4, 2018. Adval Tech (Thailand) Co. Ltd produces plastic components, especially for the consumer goods industry, and currently employs about 80 people. In selling its subsidiary in Thailand, Adval Tech is continuing to implement its focusing strategy and concentrate on selected activities, especially in its main target market, the automotive industry.
Background information about the Adval Tech Group Adding value through innovation – that’s what Adval Tech stands for. Adval Tech is the partner of choice – for high-volume components and assemblies manufactured in metal and plastic. Adval Tech focuses on the automotive market and on related applications. Adval Tech covers the entire value chain as a one-stop-shop, from product development to prototyping, to mold and tool development, and through to component production and assembly. In 2017 the group generated annual sales of 207.9 million CHF with a workforce of around 1,400. Background information about Sunningdale Tech Ltd Sunningdale Tech Ltd is a leading manufacturer of precision plastic components. It has a global presence which spans 20 manufacturing sites across eight countries including Singapore, Malaysia, China, Latvia, Mexico, Indonesia, Thailand, India and Brazil. The Group boasts a total factory space of more than 3 million square feet, with more than 1000 injection moulding machines and a tooling capacity of 2,500 moulds per year serving the automotive, consumer and healthcare industries. The Group provides one-stop, turnkey plastic solutions, with capabilities ranging from product and mould designs, mould fabrication, injection moulding, complementary finishing, through to the precision assembly of complete products. In 2017, the Group generated annual sales of 724.5 million Singapore dollars (approx. 535 million CHF). Contact Markus Reber, CFO, phone +41 31 980 82 70, markus.reber@advaltech.com Valeria Poretti-Rezzonico, Head Corporate HR/Communication, phone +41 31 980 82 66, valeria.poretti@advaltech.com Download media release www.advaltech.com/en/group/investors/company-news/ad-hoc-notices Agenda March 21, 2019 – Announcement of the results for the 2018 financial year April 16, 2019 – Conference for financial analysts and press conference on annual report 2018 April 16, 2019 – Publication of the annual report 2018 May 23, 2019 – General meeting of shareholders 2019