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Strategic Partner Invests in Schweizer China
January 11, 2022 | Schweizer Electronic AGEstimated reading time: 1 minute
The fourth quarter of 2021 resulted in significant new orders for Schweizer of around EUR 47 million. This means that a record order intake of EUR 175.2 million was achieved last year - more than twice as much as in the previous year and 20 percent above the record year of 2015.
This can be attributed in particular to the technological and now global setup of the company, so that the record order intake was achieved despite the global shortage of components.
Particularly noteworthy are orders in the double-digit millions for our chip embedding technology p² Pack. This disruptive technology supports the efficiency of hybrid 48-volt drives in automobiles and also enables a reduction in semiconductor need with higher performance at the same time. This is a decisive competitive advantage, especially in the view of the high global demand for semiconductors.
The negotiations with the strategic investor WUS Printed Circuits (Kunshan) for a direct investment in Schweizer Electronic China were successfully concluded at the beginning of January, a few days after our expected date. The transaction takes place through a 12.8 percent capital increase at the Chinese subsidiary. The inflow of funds from the capital increase will amount to CNY 75 million (around EUR 10.5 million) and is subject to the approval of an extraordinary shareholders' meeting of the investor, which is expected to take place on January 27, 2022. Discussions with another investor are ongoing. We will inform you about the progress in a timely manner.
The combination of the high order intake and a strengthening of the equity base will make it possible to finance the high growth-related working capital. With this, SCHWEIZER is heading strengthened into the year 2022.
We will communicate the provisional figures for the 2021 consolidated financial statements as soon as we finish our annual financial statements.
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