Schweizer Electronic AG: SCHWEIZER sets the direction for further growth by investing in China
SCHWEIZER sets the direction for further growth by investing in China
Schramberg, November 15, 2017 - Schweizer Electronic signed an investment agreement today with the government of Jintan/China (Jiangsu Province) to set up a sustainable high technology printed circuit board (PCB) and embedding production facility in China. The total investment will amount to 180 million USD over the next years to enable group sales to jump to up to 500 million USD.
SCHWEIZER is a leading manufacturer in the field of innovative high technology PCBs focussing on e-mobility, advanced driver assistance systems and autonomous driving. These trends have become the most powerful market drivers in the company's most important business segment automotive.
For years already has SCHWEIZER successfully collaborated with Infineon, the market leader for power semiconductors, in the field of embedding technologies. Furthermore, the SCHWEIZER Group has built a strong network and footprint in Asia through its Partners WUS and Meiko.
With the investment into a high-tech production facility in China, the company will further exploit the world-wide market potential for high-power and embedding applications by providing its customers with innovative, high-quality PCB and embedding solutions and address the fast-growing Chinese market.
"Our target is to become the leading sensor and power PCB manufacturer for the megatrends of mobility and energy efficiency. This is possible for us, since we have the right people, the right technologies and the right international network. By this investment we are able to serve the customer demands and participate in the substantial market growth, while at the same time securing the long-term viability of our production site in Schramberg", says Nicolas Schweizer, Chief Technology Officer and Member of the Board of Schweizer Electronic AG.
With a view to the decision for China as the location for the new production facility Marc Bunz, Chief Financial Officer and Member of the Board of Schweizer Electronic AG, adds: "Having undertaken comprehensive research and location analysis efforts, China emerged as the location best suited for our purposes as it offers the best overall frame conditions for the investment."
About Schweizer Schweizer Electronic AG stands for state-of-the-art technology and consultancy competence. SCHWEIZER's premium printed circuit boards and innovative solutions and services for automotive, solar, industry and aviation electronics address key challenges in the areas of Power Electronics, Embedding and System Cost Reduction. Its products are distinguished for their superior quality and their energy-saving and environmentally-friendly features. Together with its partners WUS Printed Circuit (Kunshan) Co., Ltd., Meiko Electronics Co. Ltd. and Elekonta Marek GmbH & Co. KG the company offers in its division electronics cost- and production-optimised solutions for small, medium and large series. Together with its partner Infineon Technologies AG, SCHWEIZER plans to jointly tap the chip embedding market in future.
With 787 employees SCHWEIZER achieved sales of 116.1 million euro in Fiscal Year 2016 (ending December). The company was founded by Christoph Schweizer in 1849 and is listed at the Stuttgart and Frankfurt Stock Exchanges (ticker symbol "SCE", "ISIN DE 000515623").
For further information please contact: Christina Blake Schweizer Electronic AG Einsteinstraße 10 78713 Schramberg Phone: +49 7422 / 512-213 Fax: +49 7422 / 512-777-213 E-mail: firstname.lastname@example.org Please visit our website: www.morethanPCBs.com
15.11.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: Schweizer Electronic AG Einsteinstraße 10 78713 Schramberg
Germany Phone: 07422-512-301 Fax: 07422-512-397 E-mail: email@example.com Internet: www.schweizer.ag ISIN: DE0005156236 WKN: 515623 Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (General Standard), Stuttgart; Regulated Unofficial Market in Tradegate Exchange End of News DGAP News Service