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Electronics Production | December 05, 2007

Northern Europe in focus for Hanzas, <br>”We won’t go below the Alps”

evertiq.com reported earlier this week that Latvian based EMS provider Hanzas Elektronika has acquired Swedish based EMS provider Elektromekan. Hanzas CEO and owner Ilmars Osmanis sees a positive development both for Hanza and Elektromekan after the acquisition.
Hanza was started in 1999. Today the company has two plants, one in Ogre and the other one in Ventspils, Latvia. The company has been having a strong economic development so far. In 2006 the turnover was € 7,4 million euro and the profit was € 949 087.

For the past 18 months Hanza Elektronika has been interested to take over Elektromekan. Hanzas came to a point where it had to do something. Either be acquired or make an acquisition. The company decided to do the second. What will happen next is according to Ilmars Osmanis CEO Hanza and Johan Halling CEO Elektromekan nothing dramatically.

”Why change something that works?”, Ilmars Osmanis told evertiq. "However we want to upgrade the machinery park at Elektromekans plant in Årgäng", Osmanis added.

In the future the two companies will also look at possibilities to size down overhead costs like account and other; however this is nothing that is interesting at the moment.

In 2009 the two companies together are expecting to have a turnover of € 45 million with a profit of € 3 million. Further acquisitions are also possible.

"Yes, why not. We will see but focus will be on Northern Europe. We won’t go below the Alps”, Ilmars Osmanis said laughing. “No to be serious, Germany is interesting of course”, he added.

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