Simclar, the Dunfermline, Scottish-based manufacturing company, has secured a $28 million (£16m) acquisition in the U.S. to branch out into electronics design and double in size by 2007.
The group, which has held onto 1,200 staff in Scotland despite the manufacturing downturn, hopes the deal will boost turnover to more than £229m by the end of 2006, with further acceleration in 2007. The newly acquired company, Interconnect Technologies Assembly Business (ITAB), has operations in the U.S., China and Fife, the same locations as Simclar. Simclar manufactures "cabinets" - which include the casing on mobile phones. ITAB produces a particular type of circuit board. According to Sam Russell, Simclar founder and chairman, the acquisition will provide customers with a "one-stop-shop" - allowing the firm to manufacture, design and assemble products under the same roof. As reported by scotsman.comSimclar expands manufacturing business into U.S.
Simclar, the Dunfermline, Scottish-based manufacturing company, has secured a $28 million (£16m) acquisition in the U.S. to branch out into electronics design and double in size by 2007.
Dec 27th, 2005
