© JOT Automation Electronics Production | June 20, 2018
JOT Automation has a new Chinese owner
Suzhou Victory Precision Manufacture Co., Ltd., headquartered in Suzhou, China, has purchased the entire capital stock of JOT Automation Ltd., with Finnish family company Head Invest Ltd. as the main seller.
As some might remember, JOT signed a similar agreement with Chinese Wuxi Lead Intelligent Automation back in 2016. However the sale was not closed. Consequently, JOT Automation continued as a Finnish company with an expanded ownership base, part of the Head Invest Group owned by the family of JOT founder Veikko Lesonen. But now, a new owner has been found in Victory Precision. According to Petri Halonen, JOT Automation CEO, the additional engineering and production resources provided by Victory Precision will significantly help JOT to pursue the opportunities of the fast-developing market and modern technologies, a press release reads. "JOT Automation has established itself as a leader in process and test automation solutions for electronics industry and smart products. Together with Victory Precision, we form a unique combination of European technology know-how and unparalleled Chinese competitiveness and production scalability,” says Halonen. “JOT automation has proven that it has the engineering knowledge and production experience that success in China and globally requires. Thanks to the new ownership and structure, we are able to fulfil the evolving needs of our partners and customers even better,” says Mr. Gao, Chairman of Victory Precision, in the press release. JOT Automation will continue to operate as an independent entity, under its current name and brand. Petri Halonen emphasises that while the daily operations may seem business as usual, strong development will take place below the surface, taking the company forward. "Our ultimate goal is to provide the best possible service in this particular line of industry. Ability to react quickly and even predict the direction of development is essential. Thanks to joining forces with Victory Precision, JOT Automation has what it takes to win, and that is good news to both the company as well as to our customers and partners," explains Halonen.
Kitron reports record performance during the pandemic EMS provider Kitron reports strong growth and record profit for the second quarter driven by Defense/Aerospace, Medical devices and Industry sectors.
Presto Engineering expands with facility move The provider solutions provider is moving to a new facility in Caen, France, which will enhance the company’s engineering and production capabilities.
Meyer Burger to set up solar production in Germany’s solar valley Meyer Burger wants to establish its own production of solar cells and solar modules in Saxony-Anhalt and Saxony.
Jaroslav Neuhauser new General Manager for Saki Europe Saki Corporation, a specialist in the field of automated optical and X-ray inspection equipment, announces the promotion of Jaroslav Neuhauser to General Manager of Saki Europe GmbH (Saki EU).
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.
Polytronics will acquire TCLAD, the thermal management business of Henkel Polytronics Technology Corporation plans to, through its subsidiary, acquire the entire assets and business of Insulated Metal Substrates panels and circuits of Henkel's TCLAD division (including the plant and facilities of approximately 100,000 square feet located in Prescott Wisconsin the employment contracts of around 273 employees), but excluding debts.
AT&S starts partnership with design company IMST GmbH With the aim of jointly developing high-frequency technology solutions, AT&S has concluded a strategic cooperation agreement with IMST GmbH in Kamp-Lintfort, Germany.
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.
Sponsored content by Nordson ASYMTEKConformal Coating Results — When You Need Better Than Just "Good Enough" Conformal coating contributes to product quality and reliability, but it is typically viewed as a process that tolerates sufficient results, or "good enough." That view is changing as more advanced and diverse electronic products enter the consumer marketplace, from the Internet of Things to self-driving vehicles.
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.
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.
Sponsored content by Pegasus Components GmbHThe open market for electronic components as an opportunity in the current crisis. The past few months have also led to bottlenecks in the market for electronic components. The open market offers an attractive solution. Independent distributors like Pegasus Components react quickly and flexibly. Through procurement and stock items they offer a reliable as well sustainable alternative.
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.Load more news
- U.S.: Cancellation of Preferential Treatment for Hong Kong to impact chip industry
- Apple to start mass producing Mac SoC, projected to cost under US$100
- Arm to strengthen focus on core semiconductor IP business growth
- ALLOS Semiconductors has sold its high power electronics and RF business
- Delphi Technologies awarded new power electronics business