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© bakhtiarzein dreamstime.com Electronics Production | May 25, 2015

Scanfil to buy Partnertech

Scanfil Oyj placed a recommended cash offer to the shareholders in PartnerTech AB.
“This transaction will provide Scanfil, and also PartnerTech, with the possibility to expand its operations and service offering to the benefit of customers, investors and employees. The combined company will be clearly the leading EMS-company in the Nordic market with very comprehensive service portfolio and factory network with strong global presence. Scanfil foresees several merits in combining the two companies and are looking forward to take the new group to the next level”, says Harri Takanen, chairman of the board of directors of Scanfil.

After the completion of the Offer, Scanfil will, together with the management team of PartnerTech, determine the optimal strategy for PartnerTech’s operations as part of Scanfil.

As Scanfil will continue to optimize its footprint, it cannot be ruled out that certain locations and functions, whether Scanfil’s or PartnerTech´s, would be affected by the Offer. For instance, PartnerTech´s Metal Precision Division has already today carried out restructuring efforts as its profitability has been unsatisfactory. Save for the restructuring of the Metal Precision Division, which can have an impact on employments, Scanfil does currently not foresee any material changes to the management and employees or their terms of employment, even though Scanfil of course not can exclude such consequences in other parts of the combined entity.

Partnertech's Board unanimously recommends ith’s shareholders to accept Scanfil’s offer.

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