IMI to divest Czech manufacturing operations to Keboda
Philippines-based EMS provider Integrated Micro-Electronics Inc. (IMI) has signed a definitive agreement to divest its Czech Republic manufacturing subsidiary, IMI Czech Republic (IMI CZ), to Keboda Deutschland GmbH & Co. KG, a unit of the Chinese automotive electronics company Keboda Technology.
Under the terms of the deal, IMI will sell 100% of its shares in IMI CZ for a total consideration of EUR 10 million, subject to customary post-closing adjustments. The transaction is set to be paid in three instalments.
The divestment is part of IMI’s ongoing restructuring and footprint rationalisation program launched in the second half of 2024. The company is consolidating its European operations into its facilities in Bulgaria and Serbia to reduce administrative overhead and streamline its manufacturing base.
IMI emphasises in a press release that it remains committed to supporting its customers in the Czech Republic. Most clients have already been transitioned to IMI's facilities in Serbia and Bulgaria. For the remaining customers, IMI says it will ensure uninterrupted service until they are relocated to alternative locations or until their products reach end-of-life. This support will be provided under a manufacturing agreement with Keboda, signed as part of the transaction.
Closing of the deal is contingent on several conditions, including regulatory approvals, settlement of financing arrangements, business carveouts, and execution of the manufacturing services agreement.
