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Cicor Intends to Strengthen Presence in Germany with an Acquisition
January 17, 2022 | CicorEstimated reading time: Less than a minute
Cicor Group announced that discussions are currently being held with the owners of SMT ELEKTRONIK GmbH from Dresden, Germany, with the target of acquiring the company's Electronic Manufacturing Services (EMS) activities.
In the event of a successful conclusion of the transaction, SMT ELEKTRONIK GmbH will collaborate very closely with the Cicor site RHe Microsystems GmbH from nearby Radeberg. Cicor thereby intends to expand its competencies in the areas of Electronic Manufacturing Services (EMS) and microelectronic assembly and to significantly increase its position in the German market for sophisticated electronics. Furthermore, the Cicor Group considers additional investments at the location in Saxony to further strengthen its presence in one of the most important microelectronics and IT clusters in Europe.
SMT ELEKTRONIK GmbH employs a total of 145 people in Dresden and generated sales of EUR 22.4 million with a net profit of EUR 1.2 million in financial year 2020. The company's EMS activities, which Cicor intends to acquire, are a major contributor to these key figures.
The closing of the transaction is subject to usual conditions and regulatory approval procedures.
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