Electronics Production | May 08, 2008
Flextronics closes CEAG deal
Singapore-based EMS-provider Flextronics has finalised its acquisition of CEAG's FRIWO Mobile Power (FMP) business unit.
FMP manufactures power supplies and chargers for mobile telephones. Following approval by the antitrust authorities and the fulfillment of other requirements, all FMP operations were transferred to Flextronics effective May 7, 2008. Hence the deal agreed upon on February 7, 2008 was brought to a close within the first half of the year and therefore within the agreed period of time. The provisional purchase price for the FMP business unit totals around EUR 56 million. The final purchase price will be determined in accordance with the closing balance sheet of the FMP business unit as of April 30, 2008. As previously announced, following the sale of FMP, CEAG AG will focus resolutely on developing the FRIWO Power Solutions (FPS) business unit. The Management Board expects FPS´s business performance to remain positive. FPS supplies the IT and communications, household appliances and power tools, industrial applications and medical technology markets with custom-made power supplies and chargers as well as with standard products.