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Flex to sell Multek’s China operations to MFLEX

The manufacturer has entered into an agreement with Multi-Fineline Electronix Inc. (MFLEX, do divest the Chinese operations of the Flex subsidiary, Multek.
Under the terms of the agreement, MFLEX – which is a subsidiary of Suzhou Dongshan Precision Manufacturing Co., Ltd (DSBJ) – will acquire all of the equity interests in the Chinese Multek business for proceeds of about USD 273 million. Multek will continue to operate with its current name and location in Zhuhai, China. The US-based Multek operation will remain a wholly owned Flex subsidiary.

Franck Lize, President of Multek, said, "Multek has built a strong reputation for its industry-leading capabilities that range from simple Low Layer Count rigid PCBs, to complex 46-Layer PCBs, High Density Interconnect (HDI) Flexible Printed Circuits, and Rigid-Flex PCBs. Today, we are pleased to embark on the next step in Multek's evolution as we bring our talent and technology to DSBJ's industry-leading businesses."

Yonggang Yuan, Chairman of DSBJ said, "The acquisition of Multek is another step forward towards our ultimate goal of advancing DSBJ's technological offerings and globalization of our company. We are excited about our recent achievements after the acquisition of MFLEX, and look forward to welcoming Multek to DSBJ's family of companies. This strategic acquisition is expected to enhance our product offerings to our customers and is yet another step in solidifying DSBJ's position as a global technology company."

The transaction is expected to close in the third quarter of calendar year 2018.

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April 25 2018 11:14 am V9.5.0-2