DGAP-News: Elmos Semiconductor AG / Key word(s): Disposal
Press release on today's ad hoc release
Dortmund, September 20, 2019: Elmos Semiconductor AG (FSE: ELG) signed an agreement today to sell Silicon Microstructures Inc. (SMI), Milpitas, California, to Measurement Specialties Inc., Berwyn, Pennsylvania, a subsidiary of TE Connectivity Ltd. (NYSE: TEL) (TE). Closing of the transaction is expected to take place this year and is subject to customary closing conditions.
Elmos acquired SMI in 2001. SMI has a market-leading offering in the automotive and industrial sectors that includes pressure offerings for transmission (auto) and HVAC (industrial) applications. Driven by innovations, especially with low pressure sensors for respiration devices and the award winning IntraSense(TM) product family SMI is expanding it's position in the medical sector as well.
"The IntraSense(TM) products have now reached a phase in which a financially strong partner with a broader market presence, such as TE, can implement economic success faster and put it on a strong footing," says Dr. Anton Mindl, CEO of Elmos Semiconductor AG.
SMI is represented in the micromechanics segment of the Elmos Group. After closing of the transaction, the micromechanics segment will be discontinued.
After closing of the transaction, Elmos will concentrate on the further development of its semiconductor core business with the business lines Sensors, Smart Control and Smart Solutions, whereby the focus will continue to be on the expansion of the market share with innovative, differentiating solutions, especially for the automotive sector.
About Elmos Semiconductor AG
|Company:||Elmos Semiconductor AG|
|Phone:||+49 (0)231 7549-510|
|Fax:||+49 (0)231 7549-111|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||877629|
|End of News||DGAP News Service|