Cicor Technologies

euro adhoc: Cicor Technologies
Joint Ventures/Cooperation/Collaboration / Cicor Technologies Pursues its Growth Strategy Strategic alliance with Reinhardt Microtech Group in Switzerland and acquisition of a shareholding interest in ESG Holding PTE Ltd

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13.12.2006

B o u d r y, 13 December 2006. Cicor Technologies, the Neuchâtel-based industrial group active in developing and producing complex printed circuit boards and in the complementary field of electronic manufacturing services (EMS), continues to implement its growth strategy and will add a new division to its industrial base. The strategic alliance planned with the Reinhardt Microtech Group located in Wangs, Switzerland, provides Cicor Technologies access to the promising market for micro-electronics. Upon completing the integration of the Reinhardt Group into Cicor at the beginning of 2007, Reinhardt Microtech’s former majority shareholder, Hanspeter Reinhardt, will take over shareholding interests in Cicor Technologies. In addition, he will join the group’s management bodies.

Furthermore, effective early 2007, Cicor Technologies will acquire a 36% shareholding interest in ESG Holding PTE Ltd., Singapore, combined with an option to increase the shareholding to 52%. ESG is currently under Swiss management and is active in the field of implementing complex technologies and processes. The company operates production plants in Singapore, Indonesia and Vietnam. As a result of the investment in ESG, Cicor will obtain direct access to competitive supply markets and production capacity, which will significantly improve Cicor’s competitiveness.

Cicor Technologies signed a memorandum of understanding with Hanspeter Reinhardt, majority shareholder of the Reinhardt Microtech Group, as well as with a minority shareholder, envisaging the full integration of Reinhardt Microtech AG in Wangs, Switzerland, and its 74% subsidiary, Reinhardt Microtech GmbH, in Ulm, Germany. This step is connected with a shareholding of Hanspeter Reinhardt in Cicor Technologies and his appointment to the Cicor Group's management bodies.

European market leader in thin-film technology for micro-electronics

Specialising in thin-film technology, the Reinhardt Microtech Group is the largest manufacturer of customer-specific applications in the field of high-precision resistance networks, radar technology and micro-systems (MEMS). As a supplier of key technologies to European and US high-tech companies, Reinhardt Microtech’s products are included in various applications in medicine, telecommunications, aeronautics and the automobile industry. Reinhardt Microtech GmbH in Ulm has the same micro-technological capabilities as its parent company in Switzerland.

The Reinhardt Microtech Group employs a workforce of around 80, and for 2006 the company expects total sales of CHF 17.0 million. The group anticipates sales growth for the coming years to be in the double-digit range. The integration planned for the beginning of 2007 depends on the successful completion of due diligence investigations and on various other approvals still to be obtained.

Links forged with Asia

Through its investment in ESG Holding, Singapore, a technology group with companies in Singapore, Indonesia and Vietnam, Cicor Technologies obtained an important basis to develop supply markets and production capacity in Asia. The companies owned by ESG Holding enjoy significant capabilities in various, technologically demanding areas, such as SMT und THT technologies, bonding, precision tool-making and high-end injection moulding. The customers of the ESG companies are all based in Europe and are active in the markets for medical technology and automobile technology, both of which are considered important for the future of Cicor Technologies. As a result of Cicor Technologies’ geographic presence in Indonesia and Vietnam its cost structure will remain competitive. The investment in ESG allows Cicor Technologies to further optimise its production costs by outsourcing several processes to production facilities in Asia.

The step to Asia gives Cicor Technologies access to management resources and relevant networks, for instance in Singapore, and it facilitates cooperation with important local institutes of technology. ESG Holding is managed by Emil Strickler, a Swiss citizen with more than 30 years of business experience in Asia and also a co-shareholder in ESG Holdings. In a first step, Cicor Technologies will acquire a 36% investment in ESG Holding (through a capital increase of ESG Holding) with an option to increase the shareholding to 52%.

Electronicparc Group: Acquisition completed

The acquisition of the Electronicparc Group announced in the summer of 2005 has been successfully completed following payment of the variable part of the purchasing price.

Outlook 2006

The Cicor Technologies Group expects consolidated sales for the current year to exceed CHF 175 million.

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ots Originaltext: Cicor Technologies
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
Christian Welter
CEO, Cicor Technologies
Telephone +41 79 409 40 91
Email christian.welter@cicor.ch

Branche: Technology
ISIN:      CH0008702190
WKN:        8702190
Index:    SPI, SSCI, SPIEX
Börsen:  Frankfurter Wertpapierbörse / free trade
              SWX Swiss Exchange / official market



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