Electronics Production | April 20, 2010

Baltronic acquires Teletekno Balti

Finland based Onninen Oy has sold the entire capital stock of Teletekno Balti AS to cable maker Baltronic OÜ of Estonia.

Simultaneously a three year cooperation agreement was signed between the companies which guarantees availability of the fibre optic and copper cable products for Onninen earlier manufactured by Teletekno Balti AS. Teletekno Balti AS has manufactured fibre optic and copper cable products in Tallinn since 2002. Company became part of Onninen when Teletekno Oy was acquired in 2007. Unlike its former mother company it was never integrated into Onninen and thus continued operations under its original name. Teletekno and after that Onninen has conducted good cooperation with Baltronic since 2004. Baltronic OÜ belongs to the Estonian company Baltronic Group OÜ, with its headquarters in Tallinn, and daughter companies in Riga, Latvia and Vilnius, Lithuania. It was founded in 2001 and is privately owned. Turnover of this profitable and solid company is close to 20 MEUR. Company operates in the telecommunication business. It runs its own manufacturing plant for fiber optic products in Tallinn. The company has ISO 9001 and ISO 14001 certificates. The acquisition makes Baltronic the biggest fiber optic manufacturing unit in North Europe. With the long term agreement the parties commit themselves to a close cooperation striving for a feasible product range, efficient supply chain and high quality service level.

The EMS provider recorded 2020 first quarter revenues of USD 1.84 billion, which is a YoY decrease from USD 2.18 billion during the same period 2019.

Royal Philips says it's reviewing options for future ownership of its Domestic Appliances business. The company will start the process of creating a separate legal structure for this business within the group, which is expected to be completed in 12 to 18 months.

Gatema a.s. has completed the biggest acquisition in its history to date. The Czech Republic-based has purchased Germany's Kubatronik – Leiterplatten GmbH Company, a company focused on the development and manufacturing of prototype and test boards.

Slovenian electronics specialist Eltas recently inaugurated its new production facilities in Šentjernej. An investment that will see them expanding their product portfolio to include more advanced solutions.

GM announced today a USD 2.2 billion investment at its Detroit-Hamtramck assembly plant that will make it the automaker’s first facility completely dedicated to EV auto assembly.

The new factory, located in San Fernando de Henares, will concentrate the company’s entire radar manufacturing for civil and military use.

Several new production lines are being set up at the company’s main facility in Penang, which hosts ESCATEC Electronics (EEM) and ESCATEC Medical (EDM).

Greg Grace has been appointed Director, Operations Estonia, and Managing Director of Incap Electronics Estonia, and member of Incap Group’s Management Team.

North America-based manufacturers of semiconductor equipment posted USD 2.49 billion in billings worldwide in December 2019 (three-month average basis), according to SEMI.

Hövding 3, the latest version of the company’s airbag helmet, is fully ramped up at NOTE’s plant in China.

Eguana Technologies Inc. has entered into a development contract with an unnamed renewable energy company to develop and certify proprietary residential storage systems for distribution through its sales channels across global markets.

BlueRing Stencils has acquired Georgia-based tooling supplier Stone Mountain Tool.