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Cicor Technologies Ltd.
M&A Activity • Jan 17, 2022
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M&A Activity
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Ad-hoc | 17 January 2022 07:01
Cicor intends to strengthen its presence in Germany with an acquisition
Cicor Technologies Ltd / Key word(s): Mergers & Acquisitions
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
Media & Investor Relations
Phone +41 71 913 73 00
Email: [email protected]
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.
End of ad hoc announcement
| Language: | English |
| Company: | Cicor Technologies Ltd |
| c/o Cicor Management AG, Gebenloostraße 15 | |
| 9552 Bronschhofen | |
| Switzerland | |
| Phone: | +41719137300 |
| Fax: | +41719137301 |
| E-mail: | [email protected] |
| Internet: | www.cicor.com |
| ISIN: | CH0008702190 |
| Valor: | 870219 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 1269180 |
| End of Announcement | EQS News Service |