Mike Barbella10.26.11
Paramit Corporation is expanding its medical device manufacturing footprint overseas. The Morgan Hill, Calif.-based device and instrument maker is purchasing Lemtronics Sdn. Bhd., an integrated electronic manufacturing services provider in Malaysia. Terms of the deal were not disclosed.
The sale is subject to shareholder approval. Paramit executives plan to seek that approval at a general company meeting later next month.
“The acquisition of Lemtronics gives Paramit Corporation a vehicle to offer medical device and instrument manufacturing services to our current and future customers for the Asian and European markets,” Paramit CEO Billoo Rataul noted in a prepared statement. “We are very excited about the acquisition and we see a tremendous potential to services our customers worldwide.”
Lemtronics employs more than 600 workers at its manufacturing and assembly facility in the Bayan Lepas Free Industrial Zone in Penang, Malaysia. Most of its customers are based in Europe, particularly in Germany. It is not clear whether the acquisition would affect Lemtronic’s workforce.
Lemtronics is a subsidiary of Australia-based Lemarne Corporation Limited, a global provider of specialized technologies, products and services.
The sale is subject to shareholder approval. Paramit executives plan to seek that approval at a general company meeting later next month.
“The acquisition of Lemtronics gives Paramit Corporation a vehicle to offer medical device and instrument manufacturing services to our current and future customers for the Asian and European markets,” Paramit CEO Billoo Rataul noted in a prepared statement. “We are very excited about the acquisition and we see a tremendous potential to services our customers worldwide.”
Lemtronics employs more than 600 workers at its manufacturing and assembly facility in the Bayan Lepas Free Industrial Zone in Penang, Malaysia. Most of its customers are based in Europe, particularly in Germany. It is not clear whether the acquisition would affect Lemtronic’s workforce.
Lemtronics is a subsidiary of Australia-based Lemarne Corporation Limited, a global provider of specialized technologies, products and services.