It’s Only Common Sense: Nice Guys Really Can Finish First
The Right Approach: I Hear the Train A Comin'
Marcy's Musings: The Growing IndustryCicor Successfully Completes Acquisition of TT Electronics IoT Solutions Ltd.
April 3, 2024 | CicorEstimated reading time: 1 minute
The Cicor Group has successfully completed the acquisition of TT Electronics IoT Solutions Ltd. with three production sites in the UK and China.
The combination of the sites acquired from TT Electronics PLC with the Cicor companies Axis Electronics (integration 2021) and STS Defence (integration 2024), will create the new leader in the UK EMS market and in addition make Cicor a European market leader in the production of high-end electronics for aerospace and defence applications. With this transaction Cicor has taken another step forward in implementing its strategy to become the European leader in electronics manufacturing services for medical technology, industry, aerospace and defence.
TT Electronics IoT Solutions Ltd. employs more than 500 people at its sites in Hartlepool and Newport in the UK and Dongguan in China and has a total production area of around 25,000 square meters. In the last financial year, sales of GBP 70.2 million were achieved by the acquired entities with a mid-single-digit operating margin (adjusted EBITDA). Cicor expects that after completion of the integration process, the EBITDA margin of the acquired businesses will be raised to a level close to the rest of the Cicor Group. The acquired UK production sites provide the much-needed growth reserves for local production. The production site in Dongguan will be integrated into the Cicor Group's Asian production network.
Share on:
Suggested Items
GPV’s Q1 2024 Interim Financial Report Shows Strong Navigation in Uncertain Times
05/01/2024 | GPVDanish-based GPV recorded an expected drop in sales to DKK 2.3 billion for the first quarter of 2024. The decline also affected the operating profit, which was DKK 155 million compared to DKK 179 million in the same quarter last year, although the EBITDA margin was maintained. In general, demand has been softer in 2024, but GPV continues to invest for the long-term and expects the trend to turn in the second half of 2024.
Europlacer Presents New Range of iineo SMT Placement Machines.
05/01/2024 | EuroplacerFor more than 15 years, the Europlacer iineo placement machines have made their mark on the SMT industry with unique features and unrivalled flexibility. Today, Europlacer announces the launch of the second generation iineo.
RTX's Raytheon Awards Contract to Spain's Sener for Missile Production Support
04/30/2024 | RTXRaytheon, an RTX business, has awarded Spanish supplier, Sener, a contract to develop and produce the electro-mechanical control section of the Patriot® GEM-T missile.
TSMC Celebrates 30th North America Technology Symposium
04/29/2024 | TSMCTSMC unveiled its newest semiconductor process, advanced packaging, and 3D IC technologies for powering the next generation of AI innovations with silicon leadership at the Company’s 2024 North America Technology Symposium.
SIA Commends CHIPS Act Incentives for Micron’s Manufacturing Projects in New York and Idaho
04/29/2024 | SIAThe Semiconductor Industry Association (SIA) today released the following statement from SIA President and CEO John Neuffer applauding semiconductor manufacturing incentives announced by the U.S. Department of Commerce and Micron.