08.28.13
In a move that expands its medical technology business, Flextronics is buying Switzerland-based RIWISA AG, a privately held and family-owned provider of high-volume, high-precision, injection molding and automation. Flextronics will acquire RIWISA's state-of-the-art manufacturing facilities dedicated to medical, consumer packaging and industrial products, broadening its precision injection molding and high-speed automation offerings.
"The addition of RIWISA's precision plastics and automation capabilities to Flextronics Medical is a tremendous complement to the broad range of healthcare solutions we can offer our customers globally and underscores the strategic commitment we have made to expand our services in this market," said Mark Kemp, president of Flextronics Medical. "We are very excited about today's announcement and look forward to creating a European Center of Excellence for precision plastics in Switzerland and adding RIWISA's highly talented team to the Flextronics family."
"In the scope of the succession plans, we carefully reviewed several different scenarios. Primary importance was focused on the future of the company and its employees, the changing customer requirements and increasing globalization of the market," said Gerold Richner, general manager of RIWISA. "By its sale to Flextronics, with its operations in more than 30 countries and global customer base, RIWISA is given access to the world market, enabling a solid foundation for successful future growth for the employees and the continuation of the company's industry legacy of more than 67 years."
Completion of the transaction, following regulatory approvals, is expected by the end of October. Additional terms of the deal were not disclosed.
Flextronics International Ltd. provides design, engineering, manufacturing and logistics services to a range of industries, including data networking, telecom, enterprise computing and storage, industrial, capital equipment, appliances, automation, medical, automotive, aerospace and defense, energy, mobile, computing and other electronic product categories. The san Jose, Calif.-based company reported $24 billion in sales last year.
"The addition of RIWISA's precision plastics and automation capabilities to Flextronics Medical is a tremendous complement to the broad range of healthcare solutions we can offer our customers globally and underscores the strategic commitment we have made to expand our services in this market," said Mark Kemp, president of Flextronics Medical. "We are very excited about today's announcement and look forward to creating a European Center of Excellence for precision plastics in Switzerland and adding RIWISA's highly talented team to the Flextronics family."
"In the scope of the succession plans, we carefully reviewed several different scenarios. Primary importance was focused on the future of the company and its employees, the changing customer requirements and increasing globalization of the market," said Gerold Richner, general manager of RIWISA. "By its sale to Flextronics, with its operations in more than 30 countries and global customer base, RIWISA is given access to the world market, enabling a solid foundation for successful future growth for the employees and the continuation of the company's industry legacy of more than 67 years."
Completion of the transaction, following regulatory approvals, is expected by the end of October. Additional terms of the deal were not disclosed.
Flextronics International Ltd. provides design, engineering, manufacturing and logistics services to a range of industries, including data networking, telecom, enterprise computing and storage, industrial, capital equipment, appliances, automation, medical, automotive, aerospace and defense, energy, mobile, computing and other electronic product categories. The san Jose, Calif.-based company reported $24 billion in sales last year.