PRESS RELEASE: Schweizer Electronic AG: MEIKO and SCHWEIZER plan Joint Venture for production of PCBs in Vietnam
17.12.2012
DGAP-News: Schweizer Electronic AG / Key word(s): Joint Venture
Schweizer Electronic AG: MEIKO and SCHWEIZER plan Joint Venture for
production of PCBs in Vietnam
17.12.2012 / 10:00
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Singapore, December 17, 2012 - Schweizer Electronic Singapore Pte. Ltd., a
member of the Schweizer Group, and Meiko Elec. Hong Kong Co. Ltd., a member
of Meiko Electronics Co., Ltd., plan to found a Joint Venture for the
purpose of producing Printed Circuit Boards (PCB) in Hanoi/Vietnam. This
Joint Venture will be headquartered in Hong Kong and is planned to be
officially set-up in the beginning of 2013. The start of production in
Vietnam is scheduled for the third quarter 2013.
Both companies have agreed to build a common production line for the
manufacturing of PCBs dedicated to European customers in the automotive and
industry segments. It is planned to produce standard PCBs as well as
solutions which reduce the overall cost of a system, such as FR4 Flex, and
power electronics solutions, like the Inlay Board.
By joining forces, SCHWEIZER and MEIKO build upon their respective market
accesses to Europe and Asia, their technology expertise and their
production and process know how in order to offer a wide range of products
to global customers. Accommodated in MEIKO's Vietnam plant based in Hanoi,
the joint production line will benefit from the infrastructure of the
existing factory. This facility produces PCBs since 2011 and currently
employs about 1,200 people. The production will benefit from the favourable
economic conditions that Vietnam offers in comparison to other established
Asian countries.
'Following the foundation of our partnership with MEIKO in April 2009, a
close and successful cooperation over the past three years and our mutual
shareholding, it was a logical step to further build on the valuable
experience of two powerful partners', says Dr. Marc Schweizer, designated
Vice President of the Joint Venture and CEO of Schweizer Electronic AG.
'While SCHWEIZER is a recognized R&D partner in Europe for innovative PCB
solutions, particularly for the automotive and industry segments, MEIKO is
an established enterprise offering volume production mainly for the
automotive and mobile industries. Thus we are convinced that our customers
will benefit from this strengthened partnership.'
About Schweizer:
Schweizer Electronic AG is a global best-in-class technology company,
manufacturing premium PCBs, innovative solutions and services for
automotive, solar and industry electronics. Based on recognized technology
and consultancy competencies, SCHWEIZER's products and systems address
central challenges in the areas of Power Electronics, Embedding and System
Cost Reduction and are characterized by energy and environmentally friendly
features. Together with its partners Contag GmbH and Meiko Electronics Co.
Ltd., the company offers in its division Electronic cost and production
optimised solutions for small, medium and large series and within this
network employs more than 15,000 people in Germany, Japan, China and
Vietnam.
With about 700 employees SCHWEIZER achieved sales of 105.4 million Euro in
Fiscal Year 2011 (ending December). The company was founded in 1849, is
managed by family members and listed at the Stock Exchanges in Stuttgart
and Frankfurt (ticker symbol 'SCE', 'ISIN DE 000515623').
For further information please contact
Susanne Schorn
Media & Communications
Schweizer Electronic AG
Einsteinstraße 10
78713 Schramberg
Phone: +49 7422 / 512-213
Fax: +49 7422 / 512-397
E-mail: Communications@schweizer.ag
Please visit our website: www.morethanPCBs.com
End of Corporate News
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17.12.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Schweizer Electronic AG
Einsteinstraße 10
78713 Schramberg
Germany
Phone: 07422-512-301
Fax: 07422-512-397
E-mail: ir@schweizer.ag
Internet: www.schweizer.ag
ISIN: DE0005156236
WKN: 515623
Listed: Regulierter Markt in Frankfurt (General Standard),
Stuttgart; Freiverkehr in Berlin
End of News DGAP News-Service
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197131 17.12.2012
DGAP-News: Schweizer Electronic AG / Key word(s): Joint Venture
Schweizer Electronic AG: MEIKO and SCHWEIZER plan Joint Venture for
production of PCBs in Vietnam
17.12.2012 / 10:00
=--------------------------------------------------------------------
Singapore, December 17, 2012 - Schweizer Electronic Singapore Pte. Ltd., a
member of the Schweizer Group, and Meiko Elec. Hong Kong Co. Ltd., a member
of Meiko Electronics Co., Ltd., plan to found a Joint Venture for the
purpose of producing Printed Circuit Boards (PCB) in Hanoi/Vietnam. This
Joint Venture will be headquartered in Hong Kong and is planned to be
officially set-up in the beginning of 2013. The start of production in
Vietnam is scheduled for the third quarter 2013.
Both companies have agreed to build a common production line for the
manufacturing of PCBs dedicated to European customers in the automotive and
industry segments. It is planned to produce standard PCBs as well as
solutions which reduce the overall cost of a system, such as FR4 Flex, and
power electronics solutions, like the Inlay Board.
By joining forces, SCHWEIZER and MEIKO build upon their respective market
accesses to Europe and Asia, their technology expertise and their
production and process know how in order to offer a wide range of products
to global customers. Accommodated in MEIKO's Vietnam plant based in Hanoi,
the joint production line will benefit from the infrastructure of the
existing factory. This facility produces PCBs since 2011 and currently
employs about 1,200 people. The production will benefit from the favourable
economic conditions that Vietnam offers in comparison to other established
Asian countries.
'Following the foundation of our partnership with MEIKO in April 2009, a
close and successful cooperation over the past three years and our mutual
shareholding, it was a logical step to further build on the valuable
experience of two powerful partners', says Dr. Marc Schweizer, designated
Vice President of the Joint Venture and CEO of Schweizer Electronic AG.
'While SCHWEIZER is a recognized R&D partner in Europe for innovative PCB
solutions, particularly for the automotive and industry segments, MEIKO is
an established enterprise offering volume production mainly for the
automotive and mobile industries. Thus we are convinced that our customers
will benefit from this strengthened partnership.'
About Schweizer:
Schweizer Electronic AG is a global best-in-class technology company,
manufacturing premium PCBs, innovative solutions and services for
automotive, solar and industry electronics. Based on recognized technology
and consultancy competencies, SCHWEIZER's products and systems address
central challenges in the areas of Power Electronics, Embedding and System
Cost Reduction and are characterized by energy and environmentally friendly
features. Together with its partners Contag GmbH and Meiko Electronics Co.
Ltd., the company offers in its division Electronic cost and production
optimised solutions for small, medium and large series and within this
network employs more than 15,000 people in Germany, Japan, China and
Vietnam.
With about 700 employees SCHWEIZER achieved sales of 105.4 million Euro in
Fiscal Year 2011 (ending December). The company was founded in 1849, is
managed by family members and listed at the Stock Exchanges in Stuttgart
and Frankfurt (ticker symbol 'SCE', 'ISIN DE 000515623').
For further information please contact
Susanne Schorn
Media & Communications
Schweizer Electronic AG
Einsteinstraße 10
78713 Schramberg
Phone: +49 7422 / 512-213
Fax: +49 7422 / 512-397
E-mail: Communications@schweizer.ag
Please visit our website: www.morethanPCBs.com
End of Corporate News
=--------------------------------------------------------------------
17.12.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
=--------------------------------------------------------------------
Language: English
Company: Schweizer Electronic AG
Einsteinstraße 10
78713 Schramberg
Germany
Phone: 07422-512-301
Fax: 07422-512-397
E-mail: ir@schweizer.ag
Internet: www.schweizer.ag
ISIN: DE0005156236
WKN: 515623
Listed: Regulierter Markt in Frankfurt (General Standard),
Stuttgart; Freiverkehr in Berlin
End of News DGAP News-Service
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197131 17.12.2012
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