SVI expands via new acquisition
Thailand headquartered EMS provider, SVI, announces that it has entered into a Share Purchase Agreement (SPA) to acquire 100% stake in Tohoku Pioneer (Thailand) Co., Ltd.,(TPT).
TPT has over 20 years of experience in precision manufacturing of mechanical components serving the global automotive industry. The to be acquired company currently operates in a 15,000 square metres facility north of Bangkok and employs over 900 employees, a press release reads. SVI says that the acquisition will increase its manufacturing capabilities and provide SVI’s customers with a cost-efficient electronics manufacturing service (EMS) solution. Moreover, SVI says that the acquisition will also allow the to gain new customers as well as enter into markets, without specifying which markets it is referring to. The transaction is expected to be completed by the end of November 2021. No further details have been disclosed by the companies as of reporting.