Maija-Liisa Friman<br>CEO Aspocomp PCB | June 03, 2005
Aspocomp increasing stake in PCB Center
Aspocomp Group Oyj is increasing its stake in its Thai subsidiary P.C.B. Center Co., Ltd to 75 percent (previously 51%) by purchasing 24 percent of P.C.B. Center's shares from the company's minority shareholders.
The purchase price has been agreed at EUR 3 million. The company's second-largest owner, Saha Group, will stay on as the company's other main shareholder. The deal that has now been consummated is part of Aspocomp's growth strategy. Under this strategy, the company will bolster its position in printed circuit boards for handheld devices and the telecom and automotive industries. In the fall of 2004, Aspocomp unveiled its strategy of seeking to significantly outpace market growth in the PCB and module industry in the medium term. The company's growth and development projects are geared towards improving its profitability and return on equity while maintaining a sufficiently robust financial position. "The transaction further consolidates our position in Asia and it is expected to have a slightly positive effect on our earnings per share in the present year. We are committed to developing the technological caliber of P.C.B. Center by means of targeted and cost-effective investments. Both the planned technology improvements and the streamlining of the ownership structure that has now been carried out improve our ability to provide high-tech PCB services flexibly to our global customers," says Maija-Liisa Friman, President and CEO of Aspocomp. Aspocomp's other major development project in Asia was unveiled earlier in the spring. Aspocomp's Chinese subsidiary ACP Electronics will build a new production unit at its Suzhou plant. The unit will specialize in PCBs for the telecom and automotive industries and is slated to go on stream in the summer of 2006. P.C.B. Center is the fourth-largest manufacturer of PCBs in Thailand.