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NOTE Adds China-based EMS Facility
September 24, 2007 |Estimated reading time: Less than a minute
STOCKHOLM, Sweden European EMS provider NOTE will acquire 50% of Ionics EMS' (Philippines) China production facility through a strategic collaboration. The facility will serve existing customers in telecom and industrial end-markets, while attracting additional customers through cost-effective manufacturing, according to Arne Forslund, CEO and president, NOTE.
The facility is operating at 20% of potential capacity, added Forslund, and provides NOTE with skilled operators, current-generation SMT equipment, and a building constructed in 2005. Partnering with Ionics enables production with cost-effective labor in China and the rest of Asia, Forslund notes. Ionics will develop business connections with European customers through the partnership, and will promote its ODM capabilities, added Lawrence C. Qua, CEO and chairman, Ionics.
The China-based facility could generate $76.5 million (500 million Sweden kronor) annually, NOTE claims. The company expects a marginal effect on sales and earnings in 2007, with a positive effect in 2008. It will relocate production from more costly regions to the Asia site.
NOTE operates in Sweden, Finland, Norway, the U.K., Estonia, Lithuania, and Poland, with about 1,100 employees. To learn more about the company, see www.note.se.
Ionics EMS is located in the Philippines and China. For more information, visit www.ionics-ems.com.