Electronics Production |
Siemens acquires Shinwha Electronics
Siemens has announced that it acquires Korean fire safety company Shinwha Electronics for an undisclosed sum.
'Shinwha Electronics will enhance our platform to enter the rapidly growing fire safety market in Korea and the Asia/Pacific Region,' said Francois-Xavier Hedon, chief executive of the Fire Safety and Security Products Business Unit within Siemens' Building Technologies (BT) division.
Shinwha Electronics employs about 250 employees and generated sales of about €40 million in 2007. The transaction is subject to Korean anti-trust approval, which is expected in the beginning of May 2008.
