Electronics Production | December 23, 2010
Elmos: Sale of packaging business in the Netherlands
Elmos Semiconductor sells the special packaging business of its subsidiary Elmos Advanced Packaging B.V., Nijmegen (The Netherlands), to an investment company owned by Dutch financial investor ‘Nimbus Hands-On Investors’. The sale is carried out within an asset deal framework.
Third-party sales of the sold business unit will be below EUR 10 million in 2010, generated with about 70 employees. The purchase price is a low single-digit million Euro amount; in addition, a profit-related component has been agreed. Closing is expected by year-end 2010. "By this sale, Elmos strengthens its core business, namely developing, manufacturing and selling system solutions based on semiconductors and sensors," says Dr. Anton Mindl, CEO of Elmos Semiconductor AG. "This step is beneficial to all parties concerned. Nimbus is focussed on investments in companies with potential for further development. Nimbus will continue to expand the functional packaging business and tap new customer potential. By positioning the company as an independent supplier and partner for packaging solutions, we are convinced the packaging activities will grow in the years to come", comments Gert Jan Hubers, Partner of Nimbus. In order to guarantee the continued development and supply of Elmos, a cooperation agreement for the development and manufacture of special packages has been forged.