Cicor strengthens presence in Germany through the acquisition of Phoenix Mecano Digital Elektronik and Phoenix Mecano Digital Tunisie
Cicor Technologies Ltd / Key word(s): Mergers & Acquisitions
Bronschhofen, November 15, 2022 - The Cicor Group (SIX Swiss Exchange: CICN) today announces the acquisition of 100% of the shares of Phoenix Mecano Digital Elektronik GmbH (PMDE) with sites in Thuringia (Germany) and Phoenix Mecano Digital Tunisie S.a.r.l. located in Borj-Cedria (Tunisia). With this acquisition, the Cicor Group is further expanding its Electronic Manufacturing Services (EMS) business in Europe's largest market for sophisticated electronics.
The sites acquired from Phoenix Mecano AG (SIX Swiss Exchange: PM) have been able to win some of the leading companies in Cicor's target market of medical technology as customers in recent years and expect revenues of more than EUR 30 million in the 2022 financial year. The EBITDA margin is expected to be at a level comparable to that of the Cicor Group. The German sites will be integrated into the organizational unit "Cicor Germany" of the Electronic Manufacturing Services (EMS) Division. The Tunisian site will also become part of the global production network of the EMS Division.
The Cicor Group is a globally active provider of full-cycle electronic solutions from research and development to manufacturing and supply chain management. Cicor’s approximately 2,200 employees at twelve locations in Europe and Asia are serving leaders from the medical, industrial and aerospace & defence industries. Cicor creates value to its customers through the combination of customer-specific development solutions, high-tech components, as well as electronic device manufacturing. The shares of Cicor Technologies Ltd. are traded at the SIX Swiss Exchange (CICN). For further information please visit the website www.cicor.com.
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