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Tuesday 22 July 2014
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Elcoteq

  • Elcoteq Monterrey, Mexico Receives C-TPAT Security Certification

    Espoo, Finland.- Elcoteq SE, a leading electronics manufacturing services (EMS) company with a consistent global reach and complete services to support the entire lifecycle of a product, has recently received the Customs-Trade Partnership Against Terrorism (C-TPAT)
  • Elcoteq Acquires Philips' Flat Panel TV Manufacturing Operation in Mexico

    Espoo, Finland; – Elcoteq SE, a leading integrated electronics manufacturing services (EMS). company in the communications technology field, today has signed and closed an agreement to purchase Philips’ flat panel TV (FTV) assembly operations in Juarez, Mexico. The acquisition and related cooperation agreements further strengthen Elcoteq’s position as a leading EMS company serving the strongly growing FTV industry. The deal includes a long term cooperation agreement with Philips (NYSE:PHG, AEX:PHI) to provide manufacturing services to Philips for its Latin American FTV business and its PBS (Philips Business Services) business in the Americas and a long term cooperation agreement with Funai Electric Co., Ltd (TSE/OSE: 6839) to provide manufacturing services to Funai’s FTV business in North America.

    The acquisition includes certain fixed assets and inventories of Philips’ Juarez manufacturing operation. The total consideration to be paid by Elcoteq in cash will amount to approximately MUSD 32. The current Philips personnel in Juarez, Mexico will continue in Elcoteq’s organization. The plant currently has approximately 740 employees.

    "We have a 12-year cooperation relationship with Elcoteq and are confident it is an excellent partner when we continue streamlining our global supply chain for FTV products,” commented Rob de Ridder, Senior Vice President for Philips. “Our move to transfer the Juarez operation to an experienced and leading EMS company in this field was a logical step in optimizing our supply base in the FTV business.”

    “This acquisition significantly accelerates the development of our Home Communications business and service offering. This deal marks our entrance into complete final assembly of FTVs - a strategic product segment for us where we so far have provided printed circuit board assemblies and various subassemblies to our customers,” says Vesa Keränen, President of Elcoteq Home Communications.
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