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Elna Printed Circuits with a new majority owner
Global Brands Manufacture (GBN) is planning to acquire a 70% stake in the Japanese manufacturer for about USD 32.7 million.
GBM disclosed its plans in a filling with the Taiwan Stock Exchange, DigiTimes reports. The companies have reportedly reached an agreement under which GBM will acquire 70% of the shares in the Elna Printed Circuits; which is the former PCB manufacturing division of Elna.
The acquisition will help GBM in enhancing its offering towards automotive applications as well as gaining access to the supply chain of Japanese auto vendors, the report continues. The transaction is expected to be completed on April 2, 2018.
