Cicor divests Tunisia facility and launches efficiency programme
Swiss EMS provider Cicor is divesting its Tunisia production facility and launching an integration and productivity programme expected to deliver recurring EBITDA improvements of more than CHF 10 million annually. The programme affects approximately 220 positions, equivalent to 5% of the company's total headcount.
The Tunisia facility, which employs around 90 people, is being sold for a purchase consideration of EUR 1.3 million plus customary adjustments. The deal has been signed and is expected to close in June 2026.
Cicor states that the transaction will not affect group revenue, as customer relationships remain with the company, but will result in a negative one-time impact on net profit of CHF 300,000, including transaction costs. Production activities in North Africa will be concentrated at Cicor's sites in Berrechid and Témara near Casablanca, Morocco, according to a press release from the company.
The programme includes several additional measures. Production is being transferred from the Geneva site acquired from Mercury Systems to Newport in the UK and Bronschhofen in Switzerland. Tool-making activities for plastic injection molding are moving from Singapore to Batam, Indonesia.
Meanwhile, Cicor's thin-film substrate operation in Wangs, Switzerland, is undergoing a programme to increase capacity and productivity to meet strongly growing demand, particularly from the aerospace and defence market. Overlapping management structures in Switzerland, Germany and France have been streamlined, as has the management organisation in Thuringia, where existing production sites are being retained.
The implementation costs associated with the programme are expected to fall in the mid-single-digit CHF million range during 2026, primarily in the first half of the year. Cicor states that a significant portion of the financial benefits is expected to materialise already in the second half.
The company also confirms its financial guidance for 2026 of revenue between CHF 700 million and CHF 750 million, and adjusted EBITDA of CHF 70 million to CHF 80 million.