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By Jeremy Carroll
STAFF REPORTER
Published: August 28, 2013 3:42 pm ET
Flextronics International Ltd., mostly known for manufacturing electronics, is acquiring RIWISA AG, a 300-employee medical plastics processing company.
Specific terms of the deal were not revealed, but the transaction completion is expected by the end of the October, the two companies announced.
RIWISA is a family-owned company based in Hägglingen, Switzerland. The acquisition includes RIWISA’s manufacturing facilities and employees.
“The addition of RIWISA’s precision plastics and automation capabilities to Flextronics Medical is a tremendous complement to the broad range of health care solutions we can offer our customers globally and underscores the strategic commitment we have made to expand our services in this market,” said Mark Kemp, president of Flextronics Medical, in a statement.
Flextronics said the acquisition would broaden its precision injection molding and high-speed automation offerings.
Singapore-based, Flextronics has a main U.S. office in San Jose, Calif. For the fiscal year that ended March 31, Flextronics reported profit of $270 million on sales of $23.6 billion. | |
