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GreenSource Fabrication LLC, has announced the acquisition of majority ownership in AWP Group GmbH with immediate effect. Terms of the agreement were not disclosed.
According to GreenSource VP, Alex Stepinski, “AWP was the #1 supplier by both order value and sheer number of machines (over 100) in our next generation PCB FAB/IC Substrate smart factory which we built in 2017-2019. Together with AWP, we developed the process integration network of both hardware and software required to achieve for the first time a world-wide, a fully automated and green advanced HDI/FPC/IC Substrate facility with true single piece flow. GreenSource Fabrication’s North American facility strongly competes with the Asia-Pacific market leaders on cycle time, operating cost, and capability, and is the world leader in sustainable green & lean operations. Due to these innovations, and the overwhelming demand for such next generation solutions worldwide, it became apparent that both GreenSource and AWP could mutually benefit from the closer collaboration which could only be made possible by a unified ownership.”
AWP Group GmbH will continue to operate with its current management team consisting of minority owners Henk van der Meij and Jochen Zeller, but will collaborate with GreenSource in market areas where there are strong scaled economies. For instance, GreenSource will act as an applications tech center for the continuing development of AWP equipment technology and software solutions, and AWP will now have full access to the unique intellectual property associated with GreenSource’s fully-green operations for integration into their current and future product offerings. The acquisition also provides AWP with a US base at the GreenSource site from which to facilitate expansion into the North American equipment market.”
Both companies will be exhibiting jointly for the first time at the IPC/APEX Show in San Diego in January, 2019.