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Electronics Production | November 11, 2008

Neways intends to acquire parts of Bosch Security Systems

Netherland based EMS provider Neways Electronics International N.V. today has signed a letter of intent on the acquisition of parts of the activities of Bosch Security Systems, a subsidiary of the Bosch-Group.
The intended transaction includes the transfer of approximately 40 FTE’s of the Bosch plant in Breda (the Netherlands) to the Neways Advanced Applications subsidiary in Son. Neways intends to pursue these activities acting as preferred supplier to Bosch, one of the largest international technology companies.

With the intended acquisition Neways strengthens its activities with 40 FTE’s which are specialised in the field of development, engineering and production of systems for communication. The acquisition will also include transfer of limited number of fixed assets and inventories.

The acquisition is a substantial expansion of Neways’ existing activities in the area of communication and data security. Furthermore, these activities are characterized by their low cyclicality and will therefore contribute to a more balanced total portfolio of Neways’ activities.

The intended transaction is expected to be directly earnings accretive as of effectuation.

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