Aspocomp Group Divests Its Modules Division
August 9, 2006, Aspocomp Group Plc’s subsidiaries Aspocomp Oy and Aspocomp Technology Oy have today signed agreements to sell the Group’s Modules division and modules R&D to the Kemi, Finland-based company Selmic Oy. The transaction encompasses the business and R&D operations of the Oulu modules plant as well as current and fixed assets. A total of 150 employees will transfer to Selmic under their current terms of employment. The parties have agreed that the transaction price will not be made public.
In addition to this transaction, the companies have agreed on the long-term lease of Aspocomp’s modules plant in Oulu to Selmic.
The Modules division generated about 10 percent of the Group’s net sales. “By selling Modules, Aspocomp can now focus on its core business: the manufacture of high-tech PCBs, honing competitiveness and serving its main customers. Thanks to this deal, the Modules business and R&D have now teamed up with an excellent partner that specializes in this business area, with which they can continue to upgrade their operations,” says Maija-Liisa Friman, President and CEO of Aspocomp.
Selmic Oy’s major shareholders include funds managed by Eqvitec and Teknoventure funds. “Modules business is customer and development oriented activity where the strengths of the two merging units will complement each other”, says partner Jari Mieskonen of Eqvitec Partners. “Customers can have access to a broader technology offering and greater expertise in selected areas.”
Selmic Oy provides micromodule components, process and design services as well as product concepts for customers in fields such as telecommunications, measurement, security and health care technology in the Nordic countries and continental Europe. The company zeroes in on new manufacturing technology and has about 50 professionals on its payroll.
ASPOCOMP GROUP PLC
President and CEO
Aspocomp: Innovative interconnection solutions for the electronics industry
The Aspocomp Group offers and develops innovative interconnection solutions for the electronics industry in close cooperation with its customers. We are strongly positioned as a supplier of mobile data terminal equipment components and aim to further bolster our position as a supplier to the automotive industry and data communications networks. We offer our global customers a fast road to mass production through flexible and cost-effective adaptation of new technologies.
The Aspocomp Group’s production facilities are located close to its customers in Finland, China, and Thailand. In 2005, the Group’s net sales stood at EUR 154 million and it had about 3,400 employees.
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