ESCATEC acquires UK’s JJS Manufacturing
17 May 2021
Swiss-owned electronics manufacturing services (EMS) provider, ESCATEC Sdn Bhd has fully acquired United Kingdom-based JJS Manufacturing in a private deal.
In a statement today, ESCATEC, a Penang-headquartered company, said the acquisition of JJS Manufacturing would add 1.4 hectares of electro-mechanical production facilities to its assets, together with a headcount of 500 skilled employees in the United Kingdom (UK) and the Czech Republic.
It said the acquisition, coupled with the ongoing expansion of its Malaysian operations, is expected to rapidly propel ESCATEC’s annual revenues beyond the US$300 million (US$1=RM4.13) mark from over US$200 million currently.
Chief executive officer Patrick Macdonald said that the acquisition is a direct outcome of the company’s strategic plan to become a major player in the global EMS industry and further demonstrates its commitment to serve customers’ needs.
He said JJS Manufacturing, which reported a revenue of circa US$70 million in 2020, has an exceptionally strong industry reputation in supplying complex, highly configurable, low-to-medium volume electro-mechanical assemblies which demanded high levels of skill, precision, accuracy and consistency.
“It is an excellent t between ESCATEC and JJS Manufacturing and there is a lot of synergy in the abilities and experience of both companies, facilitating tremendous opportunities for cross-selling,” he said.
Meanwhile, JJS Manufacturing managing director Stephen Greaves said the company’s acquisition by ESCATEC would bring very strong financial backing for JJS Manufacturing and long term stability for the employees.
“This is in addition to providing access to its established expertise in high complexity electronics, printer circuit board assembly and box-build manufacturing and to its international business development network,” he added.
Established in 1974, ESCATEC has an overall production space of over 4.0 hectares, with production facilities in Penang and Johor Bahru, Malaysia as well as the ESCATEC Switzerland AG in Heerbrugg.
Source: Bernama
