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Tuesday, July 9, 2013

Inari completes acquisition of Amertron

Source: http://www.thestar.com.my/Business/Business-News/2013/06/26/Inari-completes-acquisition-of-Amertron.aspx

KUALA LUMPUR: Inari Bhd has completed its acquisition of opto-electronics manufacturer Amertron Inc (Global) Ltd for RM102.87mil.
The acquisition included the takeover of Amertron’s wholly-owned subsidiaries, Amertron Incorporated, which operates two manufacturing facilities in Clark Field and Paranaque, the Philippines, and Amertron Technology (Kunshan) Co Ltdwhich has a manufacturing facility in Kunshan, China.
“The completion of the acquisition marks a significant milestone in Inari’s growth and has an important impact on the group’s future financial performance,” said group chief executive officer Lau Kean Cheong in a statement yesterday.
The acquisition is expected to increase the group’s profitability and more than double its combined annual turnover for the financial year ending June 30, 2014.
The integration of Amertron’s 2,800 skilled workforce in the Philippines and China will also help alleviate the shortage of skilled labour in Malaysia. It will provide opportunities for Malaysians in knowledge acquisition, transfer and skills upgrading in opto-electronics assembly technologies. – Bernama


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