The
Phoenix Mecano Group is to sell all its shares in electronic
manufacturing services firm Phoenix Mecano Digital Elektronik GmbH as
well as Phoenix Mecano Digital Tunisie S.à.r.l. to the Switzerland-based
Cicor Group.
Kloten/Stein
am Rhein, 15 November 2022. The sale will streamline the operations of
Phoenix Mecano and further consolidate the profile of the Industrial
Components division. The division's core products are a tried-and-tested
range of modular solutions for industrial automation. High-quality
electrotechnical components for use in testing and measuring technology
complement the division's core portfolio.
As a
globally active development and manufacturing partner supplying
innovative technology solutions in the electronics industry, the Cicor
Group offers both companies interesting opportunities for further
development.
The entities being acquired by the Cicor Group have sites in Thuringia
(Germany) and Borj Cédria (Tunisia) and manufacture electronic
assemblies for customers in the medical technology and industrial
sectors. They are expected to generate total sales of more than EUR 30
million in financial year 2022. This includes a limited number of supply
relationships with other product areas of the Phoenix Mecano Group,
which will be continued.
The
transaction is set to be completed within the next two to four months,
subject to customary closing conditions. The parties have agreed not to
disclose the sale price (book value).
