SVI completes its acquisition of Tohoku Solutions
EMS provider SVI, announces that it has completed its previously announced Share Purchase Agreement (SPA) to acquire 100% stake in Tohoku Pioneer (Thailand). With the deal complete, Tohoku Pioneer (Thailand) Company Limited has changed its name to Tohoku Solutions.
Tohoku Solutions adds 900 employees, with expertise in manufacturing precision metal and plastic parts, as well as mechanical assembly, to the SVI team. The acquired company has a long history of servicing the Japanese customers and international Tier 1 and Tier 2 automotive markets. The acquisition of Tohoku Solutions marks a milestone for SVI, as it significantly expands the vertical capabilities of the company, complementing the existing solutions in cable assembly, PCBA and box-build solutions. With customers across Europe, Asia and America, and a manufacturing footprint suited to cater to customer’s requirements in a time of supply chain disruption, the acquisition of Tohoku Solutions adds to SVI's offering. “Today marks a great day for SVI, as we welcome 900 new colleagues to the SVI family – we are very excited for you to join us on the exciting journey ahead for our company. The expertise and dedication I have seen in Tohoku Solutions are exceptional, and I am confident that this acquisition will greatly complement our current offerings and expand our value proposition to our customers,” says Mr. Pongsak Lothongkam, the major shareholder of SVI in a press release.