HONG KONG-Saturday 28 July 2018 [ AETOS Wire ]
(BUSINESS WIRE)-- Multek, a leading provider of Interconnect Solutions, today announced the completion of its previously announced acquisition by Suzhou Dongshan Precision Manufacturing Co. Ltd. (“DSBJ”) (SZSE: 002384), a diversified manufacturer headquartered in Suzhou, China. The transaction was announced in March 2018 by Multek’s outgoing parent company, Flex (NASDAQ: FLEX), in the form of a divestiture. The completion of this transaction follows the receipt of all necessary shareholder and regulatory approvals.
With the completion of its change in ownership, Multek becomes an indirect, wholly-owned subsidiary of DSBJ. Franck Lize, Chief Executive Officer of Multek, commented, “We are pleased to complete this transaction and very excited about our future as part of the DSBJ family of companies. Multek is now better positioned than ever to continue expanding capabilities and contribute to the combined company’s success, while supporting our customers’ future needs.”
"This transaction represents a new chapter and key milestone in DSBJ's 38-year history," said Yuan Yonggang, Chairman and President of DSBJ. "By acquiring Multek, we are creating a more powerful and global enterprise in the component technology space, with more than 25,000 employees, over five million square feet of manufacturing space, and adding over 300 active customers including the most respected brands in the US, Europe and Asia. With the merger complete, we aim to rapidly grow Multek by repeating the same successful recipe DSBJ used to significantly grow the sales of MFLEX, our last major acquisition in 2016, which was a similar-sized manufacturer in the same industry. In addition, Multek’s large and diversified account base -- spanning Smartphones, Wearables, IoT, Automotive, Medical, Communications Infrastructure, Computing, Consumer Electronics, Industrials and Instrumentation – presents excellent cross-fertilization opportunities for DSBJ’s existing companies and vice-versa."
Founded in 1978, Multek currently operates a 1.6 million square feet campus in Zhuhai, China, offering one-stop engineering and manufacturing services for rigid Printed Circuit Board (PCBs), flexible printed circuits (FPC), rigid-flex, and assembly. Multek’s plants and laboratories are equipped with state-of-the-art equipment.
Multek, a wholly owned subsidiary of DSBJ (SZSE: 002384), is a leading value-add manufacturer of printed circuit board technologies offering a broad spectrum of PCB engineering and manufacturing expertise including high density interconnect, rigid, flexible, and rigid-flex printed circuit and assembly solutions. Serving customers in mobile, automotive, IoT, medical, wearable, telecommunications, computing, industrial and consumer electronics markets, Multek enables customers to take products to market quickly through early engineering, advanced technology new product introduction, and volume production. For more information, visit www.multek.com
DSBJ, founded in 1980 in Suzhou, was successfully listed on the Shenzhen Stock Exchange (stock code: 002384) in 2010. DSBJ aims to be a leading technology provider of critical components in the intelligent world of IoT with one-stop R&D, manufacturing, sales and service for FPC, PCB, Rigid-Flex, LED packaging, Display Modules, and Telecom equipment, which are widely applied in the consumer electronics, telecommunications, and automotive industries. DSBJ achieved annual revenue of USD 2.37 billion in 2017.
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Peter Yu, +852 2276-1633
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