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Standex closes acquisition of Sanyu Switch
Standex International Corporation has closed its previously announced acquisition of Japan-based Sanyu Switch Co., Ltd.
In its first year of ownership, Standex still expects the acquisition to be accretive to its earnings and to achieve a double-digit return on invested capital.
Sanyu Switch designs and manufactures reed relays, test sockets, and testing systems for semiconductor and other electronics manufacturing, as well as other switching applications.
"Completing the acquisition of Sanyu Switch Co., Ltd. continues Standex's portfolio strategy of focusing on higher-margin businesses in faster growing markets," says Standex Chairman and CEO David Dunbar, in an update. "We look forward to building on the legacy established by Sanyu and its employees over the last 50 years."
