Schweizer Electronic Singapore, a member of Germany’s Schweizer Electronic AG, will enter a joint venture with Meiko Electronics Hong Kong Company, a member of Japan’s Meiko Electronics Company, to set up production of a printed circuit boards in Vietnam.
“Both companies have agreed to build a common production line for the manufacturing of printed circuit boards dedicated to European customers in the automotive and industry segments. It is planned to produce standard printed circuit boards as well as solutions which reduce the overall cost of a system, such as FR4 Flex, and power electronics solutions, like the Inlay Board,” Schweizer Electronic AG announced in a statement.
The firm said it and Meiko decided to choose Vietnam for the investment plan because “the production will benefit from the favourable economic conditions that Vietnam offers in comparison to other Asian countries.”
This joint venture, which will be headquartered in Hong Kong, is planned to be officially set-up in the beginning of 2013. The production capacity and the total investment capital have not yet been revealed, but the German firm announced the start of production in Vietnam was scheduled for the third quarter 2013.
By joining forces, Schweizer Electronic AG and Meiko aim to build upon their respective market accesses to Europe and Asia, their technology expertise and their production and process know-how in order to offer a wide range of products to global customers.
“Following the foundation of our partnership with Meiko in April 2009, a close and successful cooperation over the past three years and our mutual shareholding, it was a logical step to further build on the valuable experience of two powerful partners,” said Marc Schweizer, chief executive officer of Schweizer Electronic AG, who is also designated vice president of the new joint venture.
Schweizer Electronic AG is a global best-in-class technology company, manufacturing premium PCBs, innovative solutions and services for automotive, solar and industry electronics. Meanwhile, Meiko is a global leading printed circuit boards manufacturer. This Japanese company currently runs a manufacturing factory in Hanoi, which started operation in November 2011 and employs about 1,200 people.
“While Schweizer is a recognised research and development partner in Europe for innovative printed circuit board solutions, particularly for the automotive and industry segments, Meiko is an established enterprise offering volume production mainly for the automotive and mobile industries. Thus we are convinced that our customers will benefit from this strengthened partnership,” Schweizer said.
Nhu Ngoc | vir.com.vn
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