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© semcon Electronics Production | February 02, 2017

Semcon divests German engineering business

The Semcon Group is divesting its engineering operations in Germany, that form the Business Area Engineering Services Germany, to Valmet Automotive.
The business area provides services to customers primarily in the German automotive industry and has around 800 employees with annual sales in 2015 amounting to SEK 901 million (EUR 95.66 million) and an operating loss of SEK -49 million (EUR -5.2 million). Semcon’s operations in product information in Germany are not affected by the sale.

“Business Area Engineering Services Germany largely consists of services related to prototype and testing activities. We do not generally provide these types of services in the rest of the Semcon Group and the operations are therefore a better fit with Valmet Automotive’s offering,” says Markus Granlund, CEO of Semcon.

“The divestment of our German-based engineering services will enable us to focus even more on increasing Semcon’s growth in product development services on other markets. This will also strengthen the Group’s profitability and improve the prerequisites to achieve our financial objectives,” säger Granlund.

The purchase price will be paid in cash and amounts to EUR 14.1 million plus the booked value of net assets at the date of transfer.

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August 13 2017 4:10 PM V8.5.9-2