Dan's Biz Bookshelf: 'Getting Naked: A Business Fable'
The Chemical Connection: Common Misconceptions in Wet Processing
It’s Only Common Sense: Selling to Engineers
USI Expands Presence in Eastern Europe
August 23, 2018 | Universal Scientific Industrial (Shanghai) Co. LtdEstimated reading time: 1 minute
Universal Global Electronics Co. Ltd, a wholly owned subsidiary of EMS firm Universal Scientific Industrial (Shanghai) Co. Ltd (USI), has entered into an equity transfer agreement with ChungHong Electronics (Suzhou) Co. Ltd, intending to acquire its entire 60% stake in its Polish subsidiary Chung Hong Electronics Poland SP.Z.O.O. in Eastern Europe for RMB78 million. It is also stipulated in the agreement that within six months after the audit of financial statement of the Polish subsidiary for the year ended 2020, Universal Global Electronics can acquire the remaining stake in the subsidiary at 10 times the static P/E ratio.
In line with its 2018 expansion strategy, USI has expanded its presence in a new sector after signing a joint venture agreement with Qualcomm in Brazil, and memorandum of understanding for a joint venture with Cancon. According to the statistics of MMI, USI ranked 16th among global electronic manufacturing service providers in 2017. After the completion of the acquisition, the company will have a production base in Europe, thereby expanding its footprint in the region.
According to C.Y. Wei, president of USI, the company now has a global customer base, with production bases mainly in Shanghai, Kunshan, and Shenzhen in China; Taiwan; and Mexico. The company plans to initially deliver automotive electronics products in Poland, and then roll out its industrial and server businesses in the medium and long term.
Share on:
Suggested Items
I-Connect007 Editor’s Choice: Five Must-Reads for the Week
05/02/2025 | Marcy LaRont, PCB007 MagazineIn our industry, this week’s must-read features include CEE’s Tom Yang and his perspective on having a global business amidst tariff talk and other challenges. Joe Fjelstadt talks to the “Flexperts,” Nick Koop of TTM and Mark Finstead of Flexible Circuit Technologies. Nolan Johnson interviews the McGucken Group about the importance of empathic leadership in BANI times. NCAB’s Ryan Miller writes about reliability and compliance for building PCBs for medical applications, and surprise, more news from Siemens.
Alternative Manufacturing Inc. (AMI) Appoints Gregory Picard New Business Development Manager
05/01/2025 | Alternative Manufacturing, Inc.Alternative Manufacturing Inc. (AMI) is pleased to announce the appointment of Mr. Gregory Picard as our new Business Development Manager. Picard brings a wealth of experience in Sales and Business Development, having worked with some of the most prominent names in the industry.
Federal Electronics Expands Business Development Team, Strengthening National Growth Strategy
04/28/2025 | Federal ElectronicsFederal Electronics, a leader in providing advanced electronic manufacturing services, is proud to announce the expansion of its Business Development team with the appointment of three industry veterans: Andrew Davis, Joel Robbins, and Will Oliver.
Element Solutions Inc Announces 2025 First Quarter Financial Results
04/25/2025 | BUSINESS WIREElement Solutions Inc., a global and diversified specialty chemicals company, announced its financial results for the three months ended March 31, 2025.
Micron Announces Business Unit Reorganization to Capitalize on AI Growth Across All Market Segments
04/23/2025 | MicronMicron Technology, Inc., a leader in innovative memory and storage solutions, announced a market segment-based reorganization of its business units to capitalize on the transformative growth driven by AI, from data centers to edge devices.