Mycronic's Assembly Solutions High Volume Division Makes Acquisition in China


Reading time ( words)

Mycronic’s Assembly Solutions High Volume division has signed an agreement to acquire Shenzhen Huan Cheng Xin Precision Manufacture Co., Ltd., a company with around 120 employees and headquarters in Shenzhen, China.

Shenzhen Huan Cheng Xin Precision Manufacture Co., Ltd. produces automated screen printers and pick & place machines. Screen printers account for 80 percent of sales and pick & place machines for the remaining 20 percent. China is the company’s dominating market, accounting for 95 percent of sales.

”With this acquisition, we strengthen and broaden High Volume’s product portfolio and are able to offer a more complete and attractive solution to our customers,” says Ivan Li, Sr VP High Volume at Mycronic.

In 2020 sales in the acquired operation amounted to almost SEK 100 million. Initially, 70 percent of the shares will be acquired. The remaining 30 percent can be acquired in 2025 in accordance with a pre-defined earnings multiple. 

The transaction is expected to be finalized in the fourth quarter of 2021.

Share




Suggested Items

Pack Your Bags! We’ve Got Your Trade Show Calendar Here

09/23/2022 | Michelle Te, I-Connect007
It’s officially fall, and that means it's time to start planning your trade show attendance. To help you make decisions about when and where to go, we’ve put together a list of industry trade shows. It has been two long years with no or few in-person trade shows, and we’ve felt it. So, now we’re back in business and ready to hit the road. Do you have a show or conference to add to our list? Let us know!

Book Excerpt: 'The Printed Circuit Assembler’s Guide to… Solder Defects'

06/07/2022 | I-Connect007 Editorial Team
Solder defects in surface-mount technology (SMT) assembly have been an issue for decades. Further, the combined challenges of Pb-free soldering and ever-increasing miniaturization have resulted in new or exacerbated defects in electronics assembly, but there are proven ways to avoid defects. This book will be especially beneficial to PCB assemblers in improving their assembly processes and the reliability of the end-product, eliminating field failures, and reducing costs.

How to Minimize Quoting Time and Increase Accuracy in EMS Production

03/30/2022 | Mark Laing, Siemens Digital Industries Software
New product introductions (NPIs) and customization have been increasing rapidly over the past few years—with the results that the already-small profit margins in electronics assembly are shrinking even further. Fifteen years ago, the PCB was the product. Today, most products are a system, with multiple PCBs, cables, and enclosures. Many manufacturers want to provide turn-key products that have multiple BOMs, making the assembly process even more complicated.



Copyright © 2022 I-Connect007. All rights reserved.