Cicor Closes Acquisition of Phoenix Mecano Digital Elektronik, Phoenix Mecano Digital Tunisie

Reading time ( words)

Cicor Group announces that the acquisition of 100% of the shares of Phoenix Mecano Digital Elektronik GmbH (PMDE) with two sites in Thuringia (Germany) and Phoenix Mecano Digital Tunisie S.a.r.l. with a site located in Borj-Cedria (Tunisia), as announced on November 15, 2022, has been closed.

The sites acquired from Phoenix Mecano AG have an excellent customer base, including several leading European companies in Cicor's target market of medical technology. The three sites have generated total sales of more than EUR 30 million in the financial year 2022 and expect a significant growth in 2023 as well. The EBITDA margin is expected to be at a level comparable to that of the Cicor Group.

With this acquisition, customers of the Phoenix Mecano sites will be offered Cicor’s comprehensive range of competencies in the areas of development, manufacturing, supply chain management, global presence and synergies in material procurement. Cicor will benefit from the Tunisia site, which is attractive due to its geographical proximity, availability of skilled employees and competitive cost structures.

The German sites will be integrated in the organizational unit "Cicor Deutschland", which is part of the Electronic Manufacturing Services (EMS) Division. The Tunisian site will become part of the global production network of the EMS Division.


Suggested Items

Prepare for Next-level Professional Development at IPC APEX EXPO 2023

01/19/2023 | Julia Gumminger, IPC
IPC APEX EXPO 2023 will offer a refreshed Professional Development Course program. This year’s conference includes something for everyone, including informative courses catering to technical managers ready to level up their careers. Thirty-six courses will be offered on Sunday, Jan. 22 and Monday, Jan. 23. Attendees will find both updated content from veteran instructors and innovative courses from new instructors.

The First India Pavilion

12/19/2022 | Gaurab Majumdar, IPC
For the first time, IPC APEX EXPO will host an “India Pavilion,” showcasing 16 Indian companies promoting India’s electronics manufacturing capabilities. The initiative was undertaken by the Ministry of Commerce & Industry, Government of India, and implemented by the Indian government agency, Electronics and Computer Software Export Promotion Council (ESC) India.

R&D Takes Back Seat Amidst Chip Shortage—But It Shouldn’t

12/08/2022 | Malcolm Thompson, NextFlex
As the global chip shortage continues, companies may be tempted to put research and development on the backburner to conserve capital and prioritize production. A primary area of focus has been on increasing production capabilities to meet demand. In this drive to increase capacity, R&D has fallen to the wayside as some companies consider scaling back to refocus on the expansion of manufacturing capacity at current technology nodes. This is a hard choice to make for any company, and even R&D giants like Apple, known for its dedicated investments in innovation, have had to cut R&D budgets below original projections.

Copyright © 2023 I-Connect007 | IPC Publishing Group Inc. All rights reserved.