BRONSCHHOFEN, SWITZERLAND - Cicor Group announced today discussions are underway with the owners of SMT Elektronik with the target of acquiring the German company's electronic manufacturing services activities.

SMT Elektronik employs 145 staff in Dresden and had sales of EUR 22.4 million with a net profit of EUR 1.2 million in financial year 2020. The company's EMS activities, which Cicor intends to acquire, are a major contributor to these key figures.

The closing of the transaction is subject to usual conditions and regulatory approval procedures.

In the event the deal goes through, SMT Elektronik will collaborate with Cicor-owned RHe Microsystems in nearby Radeberg. Cicor intends to expand its EMS and microelectronic assembly capabilities and to significantly increase its position in the German high-end electronics market.

Cicor Group is also considering additional investments at the location in Saxony to strengthen its presence in one of the most important microelectronics and IT clusters in Europe.

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