Flextronics buys Swiss medical moulder

Global moulder Flextronics, that has a base in Singapore, is acquiring RIWISA, a privately held and family-owned provider of moulding and automation solutions based in Switzerland. Upon completion, Flextronics will acquire RIWISA's facilities and employees in medical, consumer packaging and industrial products, which will broaden its precision injection moulding and high-speed automation offerings.

"The addition of RIWISA's precision plastics and automation capabilities to Flextronics Medical is a tremendous complement to the broad range of healthcare solutions we can offer our customers globally and underscores the strategic commitment we have made to expand our services in this market," said Mark Kemp, President of Flextronics Medical. "We are very excited about today's announcement and look forward to creating a European Centre of Excellence for precision plastics in Switzerland and adding RIWISA's highly talented team to the Flextronics family."

RIWISA is given access to the world market, through Flextronics operations in more than 30 countries and global customer base, said Flextronics. Peter Richner, President of the board of directors at RIWISA said, "By integrating RIWISA into Flextronics, we believe we will create the best outcome for a successful future of the company and its employees in Switzerland. Thanks to the proven expertise of our three business units: Medical, Consumer Packaging and Industrial and Flextronics' global presence, we will be able to meet our changing customer needs and global requirements to further strengthen the Hagglingen site."

Completion of the transaction, which is subject to certain closing conditions, including regulatory approvals, is expected to take place by the end of October. Additional terms of the deal were not disclosed.

For the year that ended in March 2013, Flextronics reported a profit of US$270 million and sales of US$23.6 billion.

(IMA)

  Home | Terms & Conditions | Privacy Policy | Contact | Webmail | Site Map  

Copyright (c) 2013 www.injectionmouldingasia.com. All rights reserved