Electronics Production |
TES acquires Malaysian plant
French based EMS Provider TES, has announced a significant expansion of its worldwide presence through the acquisition of a manufacturing plant in Penang, Malaysia.
“The acquisition of the Penang factory fulfills a commitment made when TES acquired the kernel of its business from Thales less than two years ago," said Michel Desbard, CEO at TES. “We have been delivering on the promise to expand geographically and deliver global services through several design center acquisitions in India, US and Europe".
The acquisition was made from AV Industries. TES partnered AVI one year ago and moved some equipment there from its plant in Rennes, France and used the AVI facility to begin its Penang operation. The acquisition includes equipment and employees. It also includes the continued service to all AVI customers by TES.
TES will make investments in the facility to increase its capability and capacity to bring it to the standard of the existing plant in Langon. Initial investment will be in the range of EUR 1M. Results of this will be seen during first half of 2007.
