SMT & Inspection | December 23, 2010
Cencorp: Acquisition of Savcor's Face business completed
Cencorp Oyj continues its strong growth and has acquired Savcor's Face (Telecom) business as of 1 December 2010. After completing the acquisition, Cencorp expects its turnover for 2010 to increase to approximately somewhere between EUR 12-13 million.
The Face (Telecom) business, originally owned by Savcor Group Limited, provides functional and decorative solutions globally for the telecommunications and electronics industries including EMI (electro magnetic interference) shielding, decorative coatings, RFID (Radio Frequency Identification) antennas and flexible antennas. The three production facilities of the Face (Telecom) business are located in China. After completing the acquisition, Cencorp's business consists of automation and laser applications as well as manufacturing of special components. The above-mentioned transaction refers to the manufacturing of components, which Savcor Ltd have now handed over to Cencorp. Sami Lindfors, President, Savcor Face, has joined Cencorp executive team and is reporting to Mats Eriksson, CEO, Cencorp.