Cicor's is looking to expand in Germany via acquisition
Swiss EMS provider Cicor Group says that it is currently in discussions with the owners of SMT ELEKTRONIK GmbH from Dresden, Germany, with the target of acquiring the company's EMS activities.
Should the discussions prove fruitful and a successful conclusion of a transaction occur, SMT ELEKTRONIK GmbH will collaborate very closely with the Cicor site RHe Microsystems GmbH from nearby Radeberg. Cicor thereby intends to expand its competencies in the areas of EMS and microelectronic assembly and to significantly increase its position in the German market, a press release reads.
Furthermore, the Swiss company says that it considers additional investments at the location in Saxony to further strengthen its presence in one of the most important microelectronics and IT clusters in Europe.
SMT ELEKTRONIK GmbH employs a total of 145 people in Dresden and generated sales of EUR 22.4 million with a net profit of EUR 1.2 million in financial year 2020. The company's EMS activities, which Cicor intends to acquire, are a major contributor to these key figures.
