-
- News
- Books
Featured Books
- pcb007 Magazine
Latest Issues
Current IssueThe Growing Industry
In this issue of PCB007 Magazine, we talk with leading economic experts, advocacy specialists in Washington, D.C., and PCB company leadership to get a well-rounded picture of what’s happening in the industry today. Don’t miss it.
The Sustainability Issue
Sustainability is one of the most widely used terms in business today, especially for electronics and manufacturing but what does it mean to you? We explore the environmental, business, and economic impacts.
The Fabricator’s Guide to IPC APEX EXPO
This issue previews many of the important events taking place at this year's show and highlights some changes and opportunities. So, buckle up. We are counting down to IPC APEX EXPO 2024.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - pcb007 Magazine
Sale of Majority Stake in Schweizer Electronic (Jiangsu)
December 27, 2022 | Schweizer Electronic AGEstimated reading time: 1 minute
Schweizer Electronic AG entered into an agreement to sell approximately 57 % of the shares in Schweizer Electronic (Jiangsu) Co., Ltd. based in Jintan, China (SEC) to WUS Printed Circuit (Kunshan) Co., Ltd. based in Kunshan, China (WUS). Previously, Schweizer Electronic AG held approximately 87 % of SEC, in the future SCHWEIZER will hold a 30 % share in the Chinese company. Following the transfer of the shares, WUS is to subscribe for and acquire further shares in SEC as part of an increase in SEC's share capital which has yet to be resolved. After implementation of the future capital increase, WUS will hold an 80 % interest in SEC.
The entry of WUS will strengthen SEC’s equity capital for the volume production of the embedding technology. The SCHWEIZER embedding technology will thus be manufactured both at the plant in Schramberg and the plant in Jintan.
The closing of the transaction (Closing) is expected to take place in three to four months. The purchase price for the shares in SEC to be transferred under the Share Transfer Agreement amounts to CNY 33,450,000.
WUS holds 19.74 % of the shares in Schweizer Electronic AG. Mr. Chris WU is a member of the Supervisory Board of Schweizer Electronic AG and at the same time a member of the management of WUS and a family member of a shareholder controlling WUS. WUS is therefore a related party of Schweizer Electronic AG pursuant to Section 111a (1) sentence 2 AktG.
The Supervisory Board of Schweizer Electronic AG approved the conclusion of the Share Transfer Agreement on December 21, 2022. The Agreement still requires the approval of the shareholders' meeting of WUS to become effective.
The Management Board of Schweizer Electronic AG is currently reviewing whether and what effects the transaction will have on the forecast published by SCHWEIZER and will publish any necessary adjustments.
Suggested Items
I-Connect007 Editor’s Choice: Five Must-Reads for the Week
05/03/2024 | Nolan Johnson, I-Connect007This week’s most important news is strategic—and telling. When one puts together the IPC industry reports, we simply have to include the recent conversation with Shawn DuBravac and Tom Kastner. On the design side, check out the latest “On The Line With…” podcast featuring Brad Griffin from Cadence Design Systems, discussing SI and PI in the realm of intelligent system design.
Sypris Receives New Releases Under Electronic Warfare Program
05/03/2024 | Sypris Electronics LLCSypris Electronics, LLC, a subsidiary of Sypris Solutions, Inc., announced that it has recently received additional releases under a multi-year production contract that was first announced in 2022. The order, which provides for Sypris to begin deliveries in 2024, calls for the manufacture and test of electronic assemblies for an additional four systems to be supplied to a U.S. DOD contractor.
IMI Welcomes New CEO
05/03/2024 | IMIIntegrated Micro-Electronics, Inc. (IMI),The IMI Board of Directors announced, in a disclosure dated April 25, 2024, the appointment of Louis Sylvester Hughes, Chief Executive Officer (CEO).
Electronics Industry Sentiment Rose in April, Hitting New High
05/02/2024 | IPCApril 2024 marked the third consecutive month of sentiment growth among electronics manufacturers. When asked if they expected labor costs for hourly workers to rise over the next month, manufacturers in the United States, Mexico, and Europe predicted a five percent increase, while manufacturers in Asia predicted a slightly lower four percent increase.
LQDX Divests Aluminum Soldering Business - Mina™ - to Taiyo America Inc.
05/02/2024 | PRNewswireLQDX, formerly known as Averatek Corp., developer of high-performance materials for advanced semiconductor manufacturing, today announced that it has divested its aluminum soldering business – known as MinaTM – to Taiyo America Inc., a global market leader in advanced electronic materials.