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PCB | May 23, 2008

Cicor acquires 60% share in ESG Holding

Cicor Technologies Group has completed the acquisition of 60% of Singapore-domiciled ESG Holding, which has production sites in Singapore, Indonesia and Vietnam.
Cicor is pleased to announce that it has completed the purchase of a 60% stake in contract manufacturer ESG Holding PTE Ltd. This Singapore-domiciled technology group, with production sites in Singapore, Indonesia and Vietnam, has extensive expertise in technologically demanding areas such as SMT and THT technologies, bonding, precision tool-making and plastic injection moulding. With this acquisition, Cicor Group is significantly expanding the strategic position of the EMS Division and gaining access to competitive procurement markets and production capacities.

As activities continue to expand and markets are opened up the new base in Singapore will serve Cicor Technologies Group as a management platform in Asia. This transaction confirms Asia's status as an important production and procurement location for Cicor Technologies.

The acquisition of a majority holding is based on an option agreement between Cicor Technologies and ESG Holding which, in a second phase, allows Cicor to increase its stake to 100%.

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