Cicor Group Unveils Strategic Priorities

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Cicor, a high-tech industrial group and international leader in the areas of printed-circuit boards, microelectronics and electronic solutions, with headquarters in Boudry (Switzerland), is taking targeted measures for the strategic orientation of the Group. The Group will differentiate itself even more from the competition through "leading edge" technologies and comprehensive manufacturing services (box building) in strongly growing niches and segments. In future, the Group aims to generate an EBITDA margin over 10%. The first measures for improving profitability have already been taken.

The Cicor Group has strengthened its technology sector and services portfolio, so that customers can use the existing and expanded services in the development of innovative products and applications in an even more targeted manner. Thanks to technological advances and comprehensive service packages right up to "box building," the Group is now taking on a clear pioneering role and has established itself as "the preferred innovation partner." Together with their customers, the Group will also focus more on the development and manufacture of their products and applications with generally more complex projects.

Measures have already been taken to improve profitability and achieve the envisaged EBITDA margin. Two Swiss printed-circuit board productions sites belonging to the AMS Division (Moudon and Boudry) have therefore been merged. The merger of the sites will improve the efficiency of production and so offers clear advantages for customers. Cicor Group has also decided to merge the ES Division’s customer care operation in Switzerland from its previous two locations into one joint location and to relocate the Ticino sales office in Quartino to the ES Division's head office in Bronschhofen. Future interfaces and weak points can be reduced due to the concentration of both sites and customers can be provided with more efficient and effective support.

The Group will also achieve additional growth by reinforcing the international sales organisation.

In Eastern Europe, production capacities in Arad, Romania will be doubled by a new construction at the end of 2016, which will increase the value-added share generated outside Switzerland. A new competence center is currently being built in Bronschhofen, Switzerland, which will allow for powerful development, modern production and administration. Accordingly, the Group management will be located at this site from August 2016.

As well as the planned organic growth, M&A projects which will lead to sales growth and improved profitability remain in focus.

Outlook

The Group will generate profitable growth from 2016 onwards.

About Cicor

Cicor is a globally active group of leading companies in the electronics industry. It is organized in two divisions: Advanced Microelectronics & Substrates (AMS) and Electronic Solutions (ES). The Group's companies provide complete outsourcing services and a broad range of technologies for the manufacture of highly complex PCBs, 3D-MID solutions, hybrids and electronic modules. With around 1,950 employees at eleven production sites worldwide, the Group supplies high-quality customized solutions to clients in Europe, the US and Asia. The shares of Cicor Technologies Ltd. are listed on the SIX Swiss Exchange (CICN).