Electronics Production |
AsteelFlash takes on 191 TES staff
Asteelflash Group is taking over the manufacturing activities of the TES Electronic Solutions plant (EUR 32 million revenue) in Langon (Western France). 191 TES employees will join the group on June 1, 2011.
Through this acquisition, Asteelflash strengthens its industrial manufacturing pole in the area. The group already operates one production site nearby (Redon/Bretagne) and will therefore be able to create synergies between the plants.
Asteelflash confirms its expansion strategy to widely develop its services in the military and aeronautics markets.
With a revenue of USD 662 million in 2010, Asteelflash reached a growth of 44%. The company reported for the first quarter of 2011 a revenue of USD 193 million which represents a 38% increase of turnover compared to the same quarter of 2010.
