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Electronics Production | November 21, 2007

Foxconn to buy a stake in Diabell

EMS provider Foxconn has agreed to purchase a stake in the South Korean based company Diabell.
Foxconn will acquire 20% share stake in Diabell for 12.8 million US dollars. The company has an option to buy additional shares from Diabell's existing owners to increase its share in the company to 50 % on or before March 31, 2009, tradingmarkets reports. With this acquisition Foxconn sales in 2008 are expected to contribute more than 10 %, compared to 3-5 % in 2006-2007. Diabel is a handset component manufacturer. Customers are such as Motorola, Nokia, LG and Patech & Curitel.

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