CML and CIA merge businesses
CML Group and Hong Kong based CIA Group Holdings, both active PCB players, announces that they have completed a merger agreement effective April 30th, 2021.
CML, founded in 2001, with its European organisation managed by Moritz Hoeft has been growing steadily over the past 20 years. In 2020, CML made a strategic decision to acquire Jiangyou Starteam Electronics Technology Co., Ltd (Starteam), a manufacturer of PCB’s in China, Sichuan province. The acquisition took the company from a PCB sourcing company to a manufacturer. Now the company is adding more muscles to its operations via the merger with Hong Kong based CIA Group Holdings. The combined sales between the companies is projected to more than double over the next 5 years from an estimated 2021 annual turnover of 225 million USD. “We are excited to join forces with CIA and look forward to growing our business together and leading the way to truly being more than a manufacturer and a recognized global force in the PCB industry. Also, we look forward to the vertical integration and offering our customers a range of custom-made products like connectors, battery packs, antennas and cable assemblies” said Daniel Jacob, MD of the CML Asia organisation. Frank Raffa, CEO of CIA commented: “the agreement is a fantastic opportunity to ensure future growth and stability whilst creating commercial advantages and new markets for both companies. We are also excited about being part of the “more than a manufacturer” revolution which CML has started in the PCB industry”. CIA is a Hong Kong based company formed in 2000 as Circuits Interconnection Assemblies Ltd. created originally as a Joint Venture PCB Manufacturing partnership company with a PCB manufacturing facility in Huizhou, China. Nowadays the main focus for the company is its JV PCB Manufacturing facility, based close to Chengdu in the Sichuan Province. Over 75% of CML’s customers are located in Europe, with the automotive segment being its strongest market, followed by white goods, industrial and telecommunications. CIA is a Hong Kong based company formed in 2000 and has over 200 active customers, with Italy and China being CIA’s main geographical markets.