© Assembléon Electronics Production | January 07, 2011
Assembléon: 'We can – and will – only get better'
Philips' intention to sell off an 80% stake in SMT equipment manufacturer Assembléon to H2 Equity partners has brought on a few questions. So we had a little chat with Andre Papoular, CEO at Assembléon, about the changes.
Fact is that Philips has been focusing its core business strategy and has developed its portfolio towards the Health & Well Being segment for quite some time now. Some businesses – such as Assembléon – do not really fit into the future portfolio of Philips anymore. With H2 Equity partners, the Dutch electronics giant seems to have found a partner that will not only safeguard its future, but also bring new growth opportunities to Assembléon. So what does this mean for the management, staff, customers and suppliers of Assembléon? “We were always looking at possibilities to keep Assembléon intact. While the ownership of the company will change at the date of transfer – Philips will retain 20%, while H2 will own 80% – we will be able to continue as a stand-alone company; with the same footprint, the same strategy and the same product mix that we currently have. It means continuation.” Philips has clearly shown its commitment to a successful spin off for Assembléon over the past many years and will continue to do so with its 20% participation in the (potential) new construction. So Assembléon was looking for a partner that would have the financial means for providing growth opportunities and see the potential of the company. The positive developments of Assembléon, in many areas, during 2009 and 2010 also means that there will be no restructuring attached to the deal with H2 Equity Partners, a good message to customers, staff and suppliers alike. “We clearly expect the new partner to provide continuation for our staff. We do not expect any changes to our strategy.” “What we have done over the past years is to develop a strategy that will allow us to adapt smoothly and quickly to market dynamics. I cannot predict any future developments, but they will not be related to the potential deal that we are discussing right now. Such a change – as going into new markets for instance, changing the footprint or where Assembléon would be headquartered – would also have taken place under the umbrella of Philips. Any possible changes will clearly be driven by market dynamics.” So we are looking at a purely financial partner. “Absolutely.” Over the past few years, Assembléon has been busy finding the right market strategy and optimising the business. The fact that the equipment manufacturer was able to nearly double its turnover in 2010 YoY, while retaining its headcount of around 400, is an indication of "work well done by all my colleagues, employees of Assembléon". "From a productivity point of view, we clearly benefited from what we had to go through last year. We learned from it and took the right decisions. We decided to focus more on the Asian market, while at the same time continuing strongly in Europe and America. As a result of that we were able to create the necessary attractiveness to stipulate a potential deal." "Having said that, H2 has to be regarded as an investor with a good track record in managing its portfolio of activities and we will, for sure, benefit from this. Sharing best practices with a new partner would automatically lead to productivity and efficiency improvement, while keeping a strong customer focus."
Heidenhain opens new expanded Western US HQ This includes the expansion of its executive, sales and technical support offices, as well as demo facilities in San Jose, California.
Delphi Technologies awarded new power electronics business Delphi Technologies is making new strides by securing new power electronics business wins in the second quarter of 2020 with three Chinese OEMs. The new business is scheduled to launch in the 2021-23 timeframe.
Mycronic combines US operations in new facility near Boston Mycronic US says that all of its operations have been integrated into a new 102,000 square-foot facility in Tewksbury, near Boston, Massachusetts.
Lynn Electronics acquires West Coast cable assembly company Pennsylvania-based Lynn Electronics, a manufacturer of fibre optic and copper cable assemblies, has completed its acquisition of Coast 2 Coast, LLC (C2C), an Anaheim, California cable assembly manufacturer.
Sponsored content by ASMASM Impact – Release Summer 2020: SMT technology leader presents new products in compact livestream ASM’s new releases for this summer are innovative, smart, and deliver great gains in productivity. ASM will present these new solutions, the premiere of the ASM Works software suite and many more innovations around the integrated smart factory in a compact livestream with expert chats and spin-off sessions.
Fictiv and Jabil team up for agile 3D printing collaboration The collaboration aims to accelerate and de-risks product development in the move from prototyping and low volume production to large scale global fulfilment.
TT expands with new industrial electronics manufacturing facility The UK-based electronics manufacturing specialist is expanding the footprint of its Global Manufacturing Solutions division by opening operations in Kuantan, Malaysia.
GE Appliances invests $62 million at its Louisville facility The manufacturer is gearing up to build high-end refrigerators and expand capacity at its manufacturing facility in Louisville, Kentucky., creating 260 new jobs.
Eaton buys new facility – merges busway operations from multiple sites Power management company Eaton has purchased a new facility in Hodges, South Carolina, establishing a new home for Eaton’s busway product line currently spanning three facilities across Greenwood County.
AIM adds new facility in Brazil AIM Solder has opened a new wholly-owned facility in Manaus, Brazil. This new stocking facility, which represents the only legitimate source of AIM products in Brazil, enables the company to support a growing Brazilian market.
PFOA now in REACh and POP regulation On 4 July, PFOA - perfluorooctanoic acid, its salts and precursor compounds - was included in the POP (Persistent Organic Pollutants) Regulation (EU) 2019/1021 and at the same time also came into force in the REACh Regulation (Annex XVII, entry 68).
Manz AG receives further Battery order Manz AG is expanding its successful partnership with an international battery manufacturers in the Energy Storage segment with a further major order in the mid double-digit million euro range.
Advantech and Interlatin to set up JV in Mexico Industrial IoT specialist, Advantech, says it is establishing a joint venture subsidiary in Mexico with its channel partner Interlatin.
Mercedes-Benz takes equity stake in Farasis Mercedes-Benz is taking another important step on its journey towards CO₂--neutral mobility. The Stuttgart-based car manufacturer has launched a strategic partnership with Chinese battery cell manufacturer Farasis Energy (Ganzhou) Co., Ltd., including taking an equity stake.
A new EMS provider sees the light of day EMS providers DataED and Bestronics merge to launch a new player – Emerald EMS.
Tektronix joins the fight agains COVID-19 Tektronix has shifted its focus from supporting vehicle manufacturing to assisting with ventilator production.
ABB completes divestment of Power Grids to Hitachi ABB has reached a significant milestone in the company’s transformation towards a decentralized global technology company, with the completion of the divestment of 80.1% of its Power Grids business to Hitachi.
Germany amps up domestic battery production with massive state subsidies The German government is investing more than EUR 1.5 billion in battery cell research and production.
Internal promotions and executive retirements at Kimball EMS provider, Kimball Electronics, has made two new internal promotions aimed at contributing to the company accelerating its strategic growth plans.
Kyocera & TMDU team up for research on vitals measurement headset Kyocera Corporation and Tokyo Medical and Dental University (TMDU) have teamed up on a joint research project to develop a wireless headset that can remotely monitor high accuracy patient biometrics, such as blood oxygen saturation (SpO2).
German battery manufacturer receives funding for cell production facility VARTA AG receives public funding of EUR 300 million for battery cell production facility.
Scanfil to streamline its factory network The EMS provider is planning to combine the production of its Hamburg factory with its other factories in Germany and Poland
Kitron awarded new order within measurement technology Kitron has been awarded new business for measurement technology. The award covers a period of five years, and the expected annual value is between EUR 3.5-5 million.
NORBIT ASA awarded aquaculture contract Norwegian technology manufacturer, NORBIT, has been awarded a new contract from an existing customer within the aquaculture market.
Saki strengthens its Asian operations The AOI specialist is expanding its global sales organisation with new Asia sales department, and appointing Katsuhiro Eddie Ichiyama as Senior General Manager for the Asian regionLoad more news